Notice of Deposit of Land Certificate
A person with whom a Land Certificate has been deposited as security may seek to protect his equitable interest by applying for registration of a notice of the deposit under Rule 137. The documents to be lodged are:
(i) the Land Certificate;
(ii) an application in LR Form 73 (Precedent 8.G)
If a depositary subsequently wishes to sell land as a mortgagee in possession, he must first obtain, and lodge in the Registry, a Court Order declaring the land well charged and ordering the land to be sold.
Where a transaction relates to part of land affected by a notice of deposit and the depositary consents to the transaction, evidence of his consent should be produced. Such consent may be embodied in the document which effects the transaction or in a separate document (see Precedent 8.H).
A notice of deposit may be cancelled on foot of an application in LR Form 75 (Precedent 8.I) which should be accompanied by the Land Certificate.
PRECEDENT 8.G
LR FORM 73 - NOTICE OF DEPOSIT
LAND REGISTRY
Folio:
County:
Registered Owner:
To the Registrar of Titles:
1. The Land Certificate relating to the land in the above-mentioned folio was on .......... 20 .......... deposited by the above-named registered owner with me CD of ...... to secure (insert particulars).
2. The amount now due in respect of the said deposit is (or, due in respect of the said deposit on .......... 20.., being the date on which the depositary received notice of .......... was) £..........
Dated:
(To be signed by the depositary and attested.)
PRECEDENT 8.H
CONSENT BY A DEPOSITARY TO A DEALING
LAND REGISTRY
Folio:
County:
Registered Owner:
I, CD of ...... the person whose entitlement to hold the Land Certificate by way of security is noted on the above folio hereby consent to the registration of a transfer (or as the case may be) dated .......... 20.. and made between .......... .and ........... affecting that part of the land in the above folio shown edged red on the map attached thereto (“the premises”) and hereby release the premises from all monies secured by the deposit of the Land Certificate noted on the said folio.
Dated:
Signed Sealed and Delivered etc.
PRECEDENT 8.I
LR FORM 75 - CANCELLATION OF NOTICE OF DEPOSIT
LAND REGISTRY
Folio:
County:
Registered Owner:
I, CD of ...... hereby consent to the cancellation of the entry in the above-mentioned folio on .......... 20.. of notice of deposit with me of the Land Certificate relating to the land in the above-mentioned folio.
Dated:
(To be signed by the depositary and attested.)