Land transactions

Data: Land Transactions

Update Frequency: Monthly

Land dataset

The dataset provides certain details from land transactions registered in the Land Registry. The Land Registry is open to public inspection and therefore it is possible to establish further information in respect of each registered title, however personal information (for example, the purchaser’s name) has not been included in the data provided.

The dataset covers the period from the 6 November 2000, the date the first registrations were completed in the Land Registry, through to the end of the month preceding publication. The dataset will be updated on a monthly basis.

The type of property covered by a ‘land transaction’

As the name suggests, the Land Registry registers land.

This includes:

• residential property on the land
• commercial property on the land
• agricultural land
• lifestyle land
• a combination of all or any

Although the address of each transaction may give some clue as to the use of the land, the Land Registry does not have the information to confirm what the land is used for, or for answering questions such as what size any building erected on the land is or how many bedrooms a house has.

Included data in dataset

The following information is provided in respect of each transaction:

• the address of the registered land
• the consideration sum paid
• the market value - where a transaction takes place for less than market value or where only part of the land has changed hands, examples being gifts or transfers between parties following divorce, the applicant has to declare the true market value of the land 
• the date of acquisition
• the date of registration in the Land Registry

The dataset also includes details of land that has been voluntarily registered, in most cases the owner having acquired the land many, many years earlier and in most cases before Land Registration was introduced in the Isle of Man. The consideration sum shown for these matters is what was paid for the land when it was acquired.

Time delay in land sale and inclusion in dataset

A transaction will only show once the land has been registered in the Land Registry. The amount of time it takes for land to be registered following a sale varies.

When land that has never been registered in the Land Registry is sold, the Advocates acting on behalf of the purchasers have up to 3 months to submit the application in order to register the land – providing there are no issues with the application, registration normally takes place within about 8 weeks of the application being received. In some complex cases, it may be many months before an application is registered but such cases are in the minority.

When registered land is transferred, there is no time limit requiring the applicant to register the transfer. However, as mortgage lenders require their security over the land to be registered the vast majority of applications tend to be submitted in a very timely manner. Transfers are normally registered by the Land Registry within about 2 weeks of the application being received, although in many cases within just 2 to 3 days.

Details of average property prices in the Isle Man

The Economic Affairs Division in the Cabinet Office calculates and publishes property price data in which it sets out, amongst other things, an average property price in the Isle of Man.

Accuracy

We try to make sure that our data is accurate, but cannot guarantee that it is free from errors or fit for your purpose or intended use. If you think there is an error in the information displayed, please contact the Land Registry on +44 1624 685249 or e-mail land@registry.gov.im.

Further information

Further information on any of the transactions shown including:

• name of the new owner or owner(s)
• whether the land is mortgaged
• to whom the land is mortgaged
• what rights and conditions are associated with the land

can be obtained by attending the Land Registry and viewing the titles on the public terminals. There is no charge to view the information.

Alternatively, as the information on the Register is public information, you can purchase an Office Copy relating to the land for a cost of approximately £10.

If you wish to purchase an Office Copy, please contact the Land Registry on +44 1624 685249 and make sure you have your debit or credit card to hand or visit the Land Registry where you can pay by card or cheque.