Form RX1 and Title Restrictions
An RX1 restriction can be placed on a property's title register at the Land Registry to prevent it from being sold or remortgaged without the consent of the restriction holder.
When protecting your interest in a property—especially during creative finance deals like Purchase Lease Options, delayed completions, or joint ventures—it is essential to use the Land Registry effectively.
By filing an RX1 form, you can register a restriction against the property's title. This effectively puts a lock on the property. If the owner attempts to sell the property or take out a new mortgage, their conveyancing solicitor will see the restriction and the transaction will be blocked unless you (the restriction holder) provide explicit written consent.
Not a Charge
It is important to note that a restriction is not a legal charge (like a mortgage). It does not guarantee you money if the property is repossessed; it simply acts as a powerful blocking mechanism to ensure agreements are honored.