ABSTRACT
Until 13 October 2003 the Land Registration Act 1925 provided for leases granted for or having an unexpired term at the date of assignment of more than 21 years to be registered. This caught traditional institutional leases but not the shorter leases which have become more common with the passage of time and particularly in the last ten years. The Law Commission and the Land Registry worked together for six years to produce the 2002 Act. Leases are the area where the 2002 Act has had the most impact. Since 13 October 2003 the following interests have been registrable: leases granted for more than seven years and assignments of leases having more than seven years unexpired. Any document received by the Land Registry after 13 October 2003 is potentially open to public inspection—including leases and mortgages. Stamp duty was a much cheaper tax for the tenant than Stamp Duty Land Tax (SDLT).
