The following Banking & Finance Q&A Produced in partnership with James Hall of Hardwicke Chambers provides comprehensive and up to date legal information covering:
Generally speaking, a deed of release is not necessary in addition to a form DS1 in order to release a charge registered at HM Land Registry.
In the case of a legal mortgage of unregistered land, or a mortgage under the system of mortgage by demise (abolished by the Law of Property Act 1925 (LPA 1925)), a formal release by the mortgagee (effected by reconveyance, surrender or by receipt indorsed on the mortgage itself, depending on the way in which and to whom the mortgage was granted) is desirable and is sometimes necessary. Further discussion of discharge of legal mortgages of unregistered land is outside the scope of this article, and reference should be made to eg The nature of the right of redemption: Fisher and Lightwood’s Law of Mortgage [47.1]–.
However, in the case of registered land (with which this question must only be concerned, as a form DS1 relates only to registered land) a registered legal charge is released once the registered chargeholder (or its agent) has filed one of the Land Registry’s discharge forms and the Land Registry has processed it. These are:
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not
You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.