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Factual possession, meaning you have exercised physical control over the land, for example if the ground is open land then fencing would show such control. Together with an intention to possess the land, such possession to have taken place without any consent being granted, for a period of at least twelve years.
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The Landlord must serve upon the Tenant a Notice informing the Tenant of their intention to exclude the security of tenure provision. The Tenant will reply to the Notice with a Statutory Declaration confirming their intention to enter into the Lease with the exclusion of security of tenure.
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A Tenant has a statutory right to renew its tenancy at the end of the Lease if it occupies the premises for the purpose of its business. The Landlord and Tenant can in certain circumstances agree to contract the Lease outside the terms of the Landlord and Tenant Act 1954, meaning that the Tenant will not have the benefit of the statutory right to renewal of the Lease. In order to exclude the security of tenure provision the Lease must be for a term of years certain.
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Yes, the Land Registry charge a Land Registry registration fee which is dependent upon the value of your property. The registration fee is reduced for voluntary first registrations.
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Your ownership of the land is recorded with the Land Registry, providing you with a state-backed registration. The Land Registry hold an electronic up to date record of who owns the land.