Creation and Transfer of Property

Question 1

What are the 4 main ways to create or transfer legal property rights?

Answer 1

1) Delivery; 2) documents; 3) contracts; and 4) registration.

Question 2

What is the main method used to transfer legal titles to goods?

Answer 2

1) Delivery; 2) contracts; and 3) documents.

Question 3

By using a contract for the transfer of legal title; when can title pass in regards to delivery? May the transfer be subject to conditions?

Answer 3

Before or after delivery. Yes the transfer may be subject to conditions.

Question 4

Do some goods need to be registered? What are some goods that need to be registered?

Answer 4

Yes ie ships, and creating security interests in goods.

Question 5

What is now the normal way to transfer legal title to land? Which act and section dictate this?

Answer 5

Registration is now the normal way to transfer legal title to land (LRA 2002, s27, 51, 58).

Question 6

What method of transfer is used for intangible assets?

Answer 6

Documents.