All Flashcards
Equity intervenes in 2 ways:
Recognising new proprietary rights: equitable proprietary rights
Equitable remedies
4 new proprietary rights recognised by equity:
Beneficial interest under trust
Equitable right to redeem
Restrictive convenants (negative ones)
Estate contracts
4 equitable remedies:
Specific performance
Injunction
Rescission
Rectification
Nature of equitable remedies:
Discretionary: equity underlined wth maxims eg he who comes to equity must come with clean hands
Nature of common law remedies:
Arise as of right
Failure to comply with equitable remedy:
Contempt of court
Interests capable of being legal listed under:
S 1(2) LPA 1925:
(a) : easement/right/privilege
(c) : charge by way of legal mortgage
(e) : rights of entry
Estates capable of being legal listed under:
S 1(1) LPA 1925:
a) : fee simply absolute in possession (freehold
(b) : term of years absolute (leasehold)
3 potential formalities for grant of a legal interest:
Grantor must have capacity (can’t grant more than you have yourself)
Must be created by deed (s 52 LPA 1925)
If registered land: disposition must be registered if:
- express grant of easement
- grant of legal charge
- express grant of rent charge / right of entry
Formalities for deed:
S 1 LP(MP)A 1989: Clear on face it is deed Signed by grantor Delivered Witnessed
When failed attempt to grant legal interest, equity may recognise contract to create interest if:
Contract valid
Contract capable of specific performance
Valid contract
Compliant with s 2 LP(MP)A 1989:
In writing
Containing all terms
Signed by both parties
Equity recognised agreement to grant interest in the future gives grantee an equitable interest by application of the maxim
Equity views as done that which ought to be done
When creating estate/interest not listed in s 1(1) or (2) LPA 1925: formalities must be met depending on interest. Failure:
Right remains merely personal
4 main changes LRA 2002 made when repealing LRA 1925:
- more interests require registration for protection
- more titles require registration
- AP watered down
- system devised to pave way for e-conveyancing
Principles of LRA 2002:
Mirror
Curtain
Insurance