3. Principles of Unregistered Title to Land Flashcards
Disadvantages of the unregistered system:
- difficult to discover 3rd party interests, where docs are held by the right holder
- no state guarantee of accuracy or compensation for error (unlike in the registered system)
- possibly no plan available
- due to number of docs, conveyancing process may be slower and more expensive
from what date was compulsory first registration introduced?
Each time that unregistered land is sold for the first time since 1 December 1990 it must be
registered.
which events trigger compulsory first registration (*unregistered land**?
- Transfer of the freehold estate by sale, gift, or court order.
- Grant of a lease for a term of more than seven years.
- Assignment (transfer) of a lease of unregistered land with more than seven years to run.
- An assent, vesting assent or vesting deed which is a disposition of the freehold or a leasehold
with more than seven years to run (this refers mainly to transfers on death). - The grant of a lease to take effect in possession more than three months after the date of the
grant (ie future leases). - A first legal mortgage of the freehold or of a leasehold with more than seven years to run.
**most frequent
will the above events trigger registration for registered land?
no, but they will trigger a requirement to update the register
What does it mean when a seller deduces title to the buyer?
They prove that they own the land they are contracting to sell
What is the traditional way of deducing title?
Producing documents commencing with a good root of title demonstrating an unbroken chain of ownership for a minimum of 15 years
What are the four main documents that would make up unregistered title?
- Conveyance on sale
- Deed of gift
- Mortgage deed
- Assent
What are the four requirements of a good root of title?
- At least 15 years old
- Deal with the whole legal and equitable interest in the property
- Contain adequate description of the property
- Do nothing to cast doubt on title
What is the epitome of title?
A chronological list of all the documents, together with a copy of each
What is a requisition?
A query made by buyer’s solicitor regarding title before exchange of contracts
When does title to unregistered land pass?
Completion
What two interests will a buyer of an unregistered legal estate purchase it subject to?
- Any legal interest over the estate, whether or not they were aware, and
- Any equitable interest of which they have notice
How are legal interests generally discovered?
Checking the deeds, or inspecting the property
What must a buyer be to be bound by equitable interests?
On notice of them
What is required for most equitable rights and interests to be enforceable against subsequent buyers?
Registration with Land Charges Department of HM Land Registry