Estates and TPIs: Concepts of Ownership Flashcards
How did the Norman Conquest impact land ownership in England?
Following the Norman Conquest in 1066, William the Conqueror declared all land owned by the Crown, distributing it to loyal subjects in exchange for services, establishing a hierarchy with the Crown at the apex.
This system laid the foundation for the feudal tenure system.
What is the doctrine of tenure and its relevance to modern land law?
Originating from the feudal system, the doctrine of tenure describes the way land is held - from whom and on what terms.
Despite its medieval roots, it subtly influences modern leases, where the landlord-tenant relationship reflects tenure principles.
Technically, all land is held from the Crown, making everyone essentially a tenant.
How do leases relate to the feudal system?
Leases, while developing outside the feudal system, borrow the notion of tenure.
A lease represents a modern application of tenure, where a tenant pays rent to a landlord (the landholder) for the right to occupy land, mirroring the feudal exchange of land for service.
How does the concept of the estate introduce a time dimension to land?
In land law, ownership is not just about the physical land but also involves owning a period of time or an estate.
This concept adds a fourth dimension, time, to land, allowing for the division and transfer of lesser estates or benefits to others.
What are the two types of estates in land recognised by law?
The Law of Property Act 1925 recognizes only two estates in land:
1. the freehold estate (an estate in fee simple absolute in possession) and
2. the leasehold estate (a term of years absolute).
These estates define the duration and nature of ownership and rights over land.
What characterizes a freehold estate?
A freehold estate, or an estate in fee simple absolute in possession, signifies near-absolute ownership, inheritable and lasting potentially forever, not limited by time or conditions, and conferring the right to occupy, sell, or bequeath the land.
What characterises a leasehold estate?
A leasehold estate, or a term of years absolute, grants exclusive possession of property for a fixed duration.
It is distinguished by the tenant’s ability to exclude all, including the landlord, and the requirement for a definite lease term.
What is the origin of the common law and equity systems?
Originally, common law and equity were two separate systems administered by different courts: the common law courts and the Court of Chancery.
This separation created distinct paths for legal and equitable remedies.
What did the Judicature Acts 1873-1875 accomplish?
The Judicature Acts combined the courts of common law and the Court of Chancery into a single system, allowing both sets of rules to be applied by the same court, though preserving the distinction between legal and equitable rules.
How are conflicts between common law and equity resolved?
When there is a conflict between common law and equitable rules, equitable rules prevail.
This principle ensures fairness and justice in legal proceedings and outcomes.
How do trusts demonstrate the relationship between common law and equity?
Trusts illustrate the division between legal ownership (recognized by common law) and equitable ownership (protected by equity).
Trustees hold legal title, while beneficiaries possess equitable interest, showcasing equity’s role in ensuring justice beyond legal formalities.
What historical event led to the development of equity and trusts?
During the Crusades, knights transferred their land to caretakers, expecting it to be returned or passed to heirs. When caretakers reneged, the equitable system emerged in the Court of Chancery to enforce these non-legal obligations.
What distinguishes legal from equitable ownership?
Legal ownership is recognized by common law and grants control over property, including sale or inheritance.
Equitable ownership, protected by equity, pertains to the beneficial interest or rights in the property not captured by legal title.
Who are trustees and beneficiaries within a trust?
Trustees legally own the property (holding the legal estate), managing it on behalf of beneficiaries, who have the equitable interest.
This distinction clarifies roles and rights within the trust structure.
What happens to equitable interests when land is sold?
Equitable interests can be overreached if land is sold correctly (e.g., purchase money paid to two trustees).
The buyer takes the property free from these interests, which then attach to the sale proceeds, illustrating equity’s adaptability in protecting beneficiaries’ rights
