Chapter 18: Assents Flashcards
When does an assent occur?
Assent occurs when the PRs acknowledge that they do not require an asset for the purposes of administration and transfer it to a beneficiary.
When does an assent relate back to?
Relates back to the date of death, so the beneficiary is entitled to rents and other income from that date.
What is required for an assent of personalty?
No particular form of assent is required for personalty
Chattels pass by delivery, shares by stock transfer form, and so on.
What is needed for an assent of land?
It must be in writing, be signed by the PRs, and name the person in whose favour it is given.
The writing is needed even if the PR is the beneficiary.
What does an assent actually do?
Operates to vest the legal estate in the named person
What is needed if the PRs are to continue to hold land in a different capacity as trustees under trusts arising via the will, or under intestacy law?
An assent is needed to formally vest the legal estate in themselves as trustees to hold for the beneficiaries
What is needed if the land is unregistered?
There is a requirement to ensure that unregistered land is subject to first registration.
What options do the PRs have if the land is registered?
- They can apply to be registered as the owner in place of the deceased, producing the grant when making the application, or
- They an transfer the property by assent to a beneficiary who will then apply to be the registered owner, submitting a certified copy of the grant.
When are purchasers given protection when buying land from PRs or from beneficiaries?
Purchasers are given protection when buying land from PRs or from beneficiaries who have been given an assent.
What should purchasers insist on if buying from PRs?
Should insist on a statement in the conveyance that no previous assent has been made.
This protects the purchaser unless they had notice to the contrary
If buying land from a beneficiary, what does an assent in their favour do?
An assent in their favour from PRs is sufficient evidence that the seller is the person entitled to the legal estate.
This protects the purchaser unless they knew the assent was given to the wrong person.