Basic Definitions Flashcards
What makes a freehold?
Fee simple absolute possession
Fee
interest in land
Simple
Without time limit or end
Absolute
no restrictions
in possession
immediate
what makes a leasehold?
term of years absolute
term of years
fixed duration
absolute
no restrictions
Minor interests
Interests that are not:
- capable of substantive registration
- in section 27 LRA 2002
- overriding interest
constructive trusts
imposed by courts to address unjust enrichment and are based on the principle of equity.
restrictive covanent
a contract between two land owners. Happen when the land owner wants to restrict what the buyer can do with it.
Lease v under lease
head lease is the original lease between landlord and tenant, under lease is a lease granted by the tenant to a subtenant for part of the premises.
Lease v under lease
head lease is the original lease between landlord and tenant, under lease is a lease granted by the tenant to a subtenant for part of the premises.
Property register contains
- Verbal description of the land
- reference to ‘title plan’
- identifies type of estate registered (freehold or leasehold)
- if there is a lease, the duration of the lease.
- rights for benefit property can also be detailed in this register.
Proprietorship register contains
- class title
- name and address of registered proprietors
- any restrictions on their ownership
