The Land Registration Fee Order 2024
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Change 1
7 Valuation (first registration and registered estates)
(1) Subject to paragraph (2), the value of the estate in land, franchise, profit or manor is the maximum amount for which it could be sold in the open market free from any charge— (a) at the date immediately before the surrender in the case of a surrender, and (b) at the date of the application in any other case. (2) For the purposes of paragraphs (2), (3), (4) and (5) of article 4, where the transfer takes effect subject to an existing charge on the registered estate, the value of the registered estate is as in paragraph (1) less the amount secured by the existing charge at the time of the transfer. (3) As evidence of the amounts referred to in paragraphs (1) and (2), the registrar may require a written statement signed by the applicant or the applicant’s conveyancer or by any other person who, in the registrar’s opinion, is competent to make the statement. (4) For the purposes of article 4(5), the value of the share is the proportionate part of the value of the registered estate assessed in accordance with paragraphs (1) and (2). (5) Where a transfer falling within article 4(5) takes effect subject to an existing charge on the share disposed of but not on the registered estate, the value of the share is its value as in paragraph (4) less the amount secured by the existing charge at the time of the transfer. (6) Where an application for first registration is made on— (a) the purchase of a leasehold estate by the reversioner, (b) the purchase of a reversion by the leaseholder, or (c) any other like occasion, and an unregistered interest is determined, the value of the estate is the combined value of the reversionary and determined interests assessed in accordance with paragraph (1).
7 Valuation (first registration and registered estates)
(1) Subject to paragraph (2), the value of the estate in land, franchise, profit or manor is the maximum amount for which it could be sold in the open market free from any charge— (a) at the date immediately before the surrender in the case of a surrender, and (b) at the date of the application in any other case. (2) For the purposes of paragraphs (2), (3), (4) and (5) of article 4, where the transfer takes effect subject to an existing charge on the registered estate, the value of the registered estate is as in paragraph (1) less the amount secured by the existing charge at the time of the transfer. (3) As evidence of the amounts referred to in paragraphs (1) and (2), the registrar may require a written statement signed by the applicant or the applicant’s conveyancer or by any other person who, in the registrar’s opinion, is competent to make the statement. (4) For the purposes of article 4(5), the value of the share is the proportionate part of the value of the registered estate assessed in accordance with paragraphs (1) and (2). (5) Where a transfer falling within article 4(5) takes effect subject to an existing charge on the share disposed of but not on the registered estate, the value of the share is its value as in paragraph (4) less the amount secured by the existing charge at the time of the transfer. (6) Where an application for first registration is made on— (a) the purchase of a leasehold estate by the reversioner, (b) the purchase of a reversion by the leaseholder, or (c) any other like occasion, and an unregistered interest is determined, the value of the estate is the combined value of the reversionary and determined interests assessed in accordance with paragraph (1).
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