Land registry

[Kit]

Mum and Dad's mortgage has now been paid off, and they have the deeds. However there is no land registration certificate. They have been told that it's not a problem right now, but it will have to be registered when the house is sold on.
Questions: what difference does land registration make? Why doesn't it matter now, but will matter if they sell the house? Why wasn't this picked up when they bought it in 1979? What will happen if they don't register it?

[cupra]

Who is advising them? The new Land Registry Act 2002 came into force today - there are implications for unregistered properties now (squatting etc..), so it may be worth enquiring further (I'm by no means an expert by the way!). http://www.landreg.gov.uk/legislation/lract2002/de
fault.asp

[Kit]

LOL! Just trying to imagine my grey haired old folks being arrested as squatters... they'd laugh their socks off!
Seriously, thanks for the info - I'll get onto the site and see if I understand it....