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1. It is possible to split your two acre plot dividing up the dwelling and the separate commercial building. Essentially, all you need to do is to create two separate Folios in the Land Registry. However, you should get an experienced conveyancing solicitor to help you with this as Land Registry procedure is complex and you will need help to navigate it. You will be able to use the new boundary plans you have drafted to divide up the Folio. Subsequent to the division, you will then be named as owner of each separate Folio and each will have a separate number in the Land Registry. It will then be possible to raise finance upon each separate Folio if you wish, or to transfer ownership to a separate person of one Folio if this is what you desire.
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4. In the Land Registry, each separate piece of land which is separately owned has its own designation, which is called a "Folio". The Folio recites the ownership and any thing which affects the ownership such as a mortgage or charge or a right of way. The Folio essentially recites the ownership.