In the process of conveyancing, a buyer should be more careful than a seller. When you are a buying a property, it is your duty to ensure that the purchase is completely safe and secure. This is one of the main reasons why a number of searches are conducted prior to the exchange of contract.
Conveyancing is the legal process of transferring the title from one person to another. As this is a legal procedure, it is crucial to ensure that all the documentations are carried out perfectly. Registration of the land is one such significant issue.
What is SIM?
The Search for Index Maps (SIM) or the Index map search is one such legal inspection carried out to confirm whether the land you are intending to purchase is registered or not. The land registries mapping records are the prime reference for the completing this search.
How can you conduct a SIM?
If you are planning to go for an Index map Search, the first step is to make a formal application. You must get a SIM form, fill it up and send to the land registry. You must also attach a copy of the plan of the property. This is attached to verify and find the boundaries of the property. In case any portion of the land is already registered, the search will reveal the title number or numbers of the previous registration.
In case the plan of the property is not available, you have to report the same to the land registry. Provide the full address of the property and the land registry will provide you an index map plan. This is especially helpful when you are transacting an unregistered property. If the plan attached with deeds is not sufficient for the registration process, you can make use of this index map plans.
Importance of SIM
If the land is unregistered, a caution against first registration will be made. On the other hand if the property is already registered, a restriction or notice will be given to the beneficiary. That is, the person who is conducting the search will get a notice from the land registry, whenever some other party tries to register or transfer the land.
Extended Boundaries
It is very important to conduct a SIM before you fix a purchase especially if the land is unregistered. It is essential to make clear that there are no other factors affecting the ownership or registration of the property. There are many issues that come up during the time of registration. For instance, at times the boundaries of the property may shift, that is the boundaries of the property you purchase may be registered with the title of your neighboring property. The boundaries may even extend and be greater than that you actually owned.
Access roads
Similarly, suppose if there is an access road passing through the land and the right for using it is not granted. In such cases you will need to conduct an index map search to identify the owner of that property or that portion of land. This will indicate whether it is possible to get the permission to use the way or not.
Cost of SIM
In the previous days, the index map search was not charged. But today you usually have to pay an amount of £8. If there are additional or multiple titles associated with the property, you will have to pay extra charges depending the number of titles.
