Question

To ask Her Majesty’s Government whether they plan to require the Land Registry to record the purchase price of all properties, including those where the transaction is in a foreign currency or where the price is not precisely stated.

Land Registry Rules state that a price paid or value declared must be entered where “practicable”. Transactions in a foreign currency are not exempt from these Rules. With all transactions there may be situations where the entry of the price paid or value stated information may be considered misleading or not reasonable for the customer to provide.

There are currently no plans to change the current practice which is explained in full in Land Registry’s Practice Guide 7, available on the GOV.UK website. This guide also describes how Land Registry deals with transactions where the price is not exactly stated.