Estates and interests Flashcards
5 questions to ask (5D) plus stature provisions
What estate/ interest is being claimed?
Is it capable of being legal - s1 LPA 1925
Formalities - s52-54 LPA and s2 LP(MP)A 1989
Registrable dispositions - s27 LRA 2002
Purchaser buys subject to - s29 LRA 2002
A) registered charges
B) prior interests protected on register
C) interests which override - Sch 3 LRA 2002
D) if none, purchaser takes free
Legal estates statute provision
S1 (1) LPA 1925
S1(1)(a) LPA 1925
Fee simple absolute in possession
S1(1)(a) LPA 1925 Fee simple
Estate continues for as long as owner has someone to succeed him (under will or intestacy)
S1(1)(a) LPA 1925 Absolute
Estate is perpetual, nothing will terminate it prematurely
S1(1)(a) LPA 1925 In possession
Must be immediate, not in reversion: remainder
Fee simple absolute in possession includes
Receipt of rent and profits - landlords are still in absolute possession when tenants live in their property
S1(1)(b) LPA 1925
Term of years absolute
S1(1)(b) LPA 1925 Term of years
A term for any period with a fixed and certain duration
Term of years absolute includes (3)
Leases for specified number of years
Leases for less than a year
Periodic tenancies eg weekly or monthly
S1(1)(b) LPA 1925 Absolute
Even if there’s a provision for the landlord to end the lease
S1(1)(b) LPA 1925 Need not be…
In possession - can be future leases
S1(1)(b) LPA 1925 Term of years absolute doesn’t include
Leases for life - uncertain
Legal interest statute provision
S1(2) LPA 1925
S1(2)(a) LPA 1925
Easements, rights or privilege
S1(2)(a) LPA 1925 Easements
Right to do something on someone else’s land eg right of wavy
S1(2)(a) LPA 1925 Profits a prendre
Right to take something away from someone’s land eg to fish
S1(2)(a) LPA 1925 must be for period equivalent to one of the legal estates (3)
Few simple absolute in possession
Term of years absolute
Period of life is invalid - uncertain
S1(2)(b) LPA 1925
Rentcharge
S(1)(2)(b) LPA 1925 rentcharge (4)
Regular financial payment
In possession
Issuing out of or charged on land
Perpetual or for a term of years absolute
S1(2)(c) LPA 1925
Charge by way of legal mortgage
S1(2)(e) LPA 1925
Rights of entry
S1(2)(e) LPA 1925 rights of entry (3)
Right to recover property if money not paid/ terms breached
Exercisable over a term of years absolute
Or annexed to a legal rentcharge
Legal estates (2)
S1(1) LPA 1925
(a) Fee simple absolute in possession
(b) Term of years absolute
Legal interests (4)
S1(2) LPA 1925
(a) Easements, rights or privilege
(b) Rentcharge
(c) Charge by way of legal mortgage
(e) Rights of entry
