OpenLegislation

Chapter 1. REGISTRATION FEES

Original text. Later amendments are not shown.

When application is made for–

(a)

registration of an unregistered interest in land in pursuance of section 2(1) of the Act;

(b)

registration of the creation over a registered interest in land of a liferent or an incorporeal heritable right in pursuance of section 2(3) of the Act; or

(c)

registration of any transfer of a registered interest in land (not being a heritable security) in pursuance of section 2(4) of the Act,

the fee to be charged shall be calculated as follows:–

(i)

where the interest in land to which the registration relates has been created, granted or transferred for a consideration, on the amount of the consideration or the value of that interest, whichever is the greater; or

(ii)

in any other case, on the value of the interest in land to which the registration relates except that, where an application is made to register an interest or interests in land excambed, a fee will be charged on the value of the interest to which the application relates,

and shall be at the rates shown in Table A in Part XI of this Schedule, subject to the provisions of Part III of this Schedule and to the following provisions:–

(a)

where the consideration consists of a yearly or periodical payment, the amount of that consideration shall be the capitalised amount of the payment, calculated at 10 years' purchase;

(b)

where a single application, not being an application to register a Transfer of Part of a registered interest in land, affects a number of Title Sheets, the fee to be charged shall be based on the amount of the consideration or the value of the interest in land created, granted or transferred, whichever is the greater, plus a fixed fee for every Title Sheet affected other than the first;

(c)

where an application is made to give effect to a survivorship destination only, a fixed fee will be charged.