UK updates guidelines on unclaimed land, buildings

The UK Government has published revised guidelines for dealing with certain land, buildings and property interests that become bona vacantia, including updated indicative charges for property valuations.

The Bona Vacantia Division announced the revisions on Monday, covering its guidelines for referring bona vacantia land or buildings and applying to buy a freehold reversion.

The division said the changes were made to reflect increases in the indicative charges associated with District Valuer fees where a valuation is required.

Bona vacantia refers to property that has no legal owner. In England and Wales, certain ownerless property can pass to the Crown and is administered through the Bona Vacantia Division.

The revised BVC2 guidance concerns the process for referring land or buildings that may be bona vacantia, while BVC4 relates to applications to buy a freehold reversion.

According to the division, the revised guidelines incorporate increased indicative District Valuer charges in cases where a valuation is required for land or buildings, or for freehold or leasehold reversions.

The government clarified that the revision did not change the underlying rules governing what constitutes bona vacantia.

Rather, the update specifically reflects the increased indicative charges for District Valuer services.

The updated guidance is intended for people dealing with land, buildings, freehold reversions or leasehold reversions that fall within the remit of the Bona Vacantia Division.

The development is also relevant to estates left without a known legal owner, as certain assets belonging to people who die without a will may ultimately become bona vacantia if no eligible next of kin can be identified.