It is important to know what interests may a caution be entered for and which not , in order to protect that interest from the effects of first registration of the unregistered estate. Hence, an owner of a freehold estate in land or a leasehold estate in land granted for a term of which more than seven years are unexpired ( but it may be an overriding interest under s 70 (1) (k) if it was granted for 21 years or less before the LRA 2002 came into force https://www.gov.uk/government/publications/overriding-interests-and-their-disclosure/practice-guide-15-overriding-interests-and-their-disclosure–2) is not allowed to apply for a caution against first registration and the same goes for someone who has acquired such an estate through adverse possession ( s 15(3) LRA 2002). In order for such interests to be protected they need to be registered in their own right. However, The prohibition only applies to such interests for which cautions were registered since the LRA 2002 came into force. If cautions were entered for such interests before the LRA 2002 came into force under s 53 of the LRA 1925, they will not be affected by the prohibition in s 15 of the LRA 2002 as it has no retrospective effect.
WHERE THE PROHIBITION OF S 15(3) DOES NOT APPLY.
Exceptionally however the prohibition of s 15(3) allows for a two year deferment period so that a caution may be entered for the above mentioned interests if:
When An application for first registration for of the unregistered estate is made before the 13th of october 2005 midnight, the caution will hold good against such registration. If an application is made beyond that date then a caution for such interests will be cancelled and the interest may be exposed to the effects of first registration.
