The Land Registry has launched new counter-fraud measures for properties sold or registered through a company.

Following a successful trial, the government body will allow companies to increase the checks conveyancers and solicitors have to perform before a sale can complete.

It said tenanted, unoccupied or mortgage-free properties were the most vulnerable with fraudsters often trying to take ownership of a property using forged documents or impersonating the owner.

Under the new rules a legal representative will have to certify the company is legitimate before any deal can be completed.

Alasdair Lewis, director of legal services, said: “Recorded incidents of forged transfers and charges are not restricted to individuals; corporate owners such as landlords of residential and commercial properties are targeted too. Since September 2009, we have prevented frauds on over 160 applications representing properties valued in excess of £70m.

“With fraud currently estimated to cost the economy £70bn annually, it makes sense to try and deter fraudsters wherever possible. Together with our top tips, our new restriction can easily be used by companies to help protect their property from being stolen.

“A request by a company for a restriction can be made using Form RQ(Co). The restriction is designed to help safeguard against forgery by requiring conveyancers, for example a solicitor, to certify that they are satisfied the company transferring, leasing or mortgaging the property is the same company as the owner before any new sale, lease or mortgage is registered. They must also certify that they have taken reasonable steps to establish that anyone who executed the deed on behalf of the company held the stated office at the time of execution.”

The Land Registry will allow a company to lodge three requests for restriction.