Formalities Flashcards
What statute (and section) refers to the formalities of legal estates and interests?
S.52 (1) Law of Property Act.
What are the formalities for legal estates, sale of legal estates, and legal interests?
All conveyances/interests in land must be made by deed.
What happens if the formalities for legal estates are not complied with?
They will be void.
What exception can be found for the formalities of legal estates?
Law of Property Act 1925
S.52(2)(d): exception for leases and tenancies.
Which leases are part of the s.52(2)(d) (L of P Act) exception?
- take effect in possession
- not exceeding 3 years (includes most periodic tenancies)
- at the best rent (market rent)
What does s.54 (L of P Act) state?
It lists the exceptions to the requirement for a deed.
Certain short leases can be created by parole.
Which leases must still be conveyed by deed?
- revisionary leases (future)
- leases over 3 years
- transfer of any lease has to by deed
Where can the formalities for the creation of an interest of land in equity be found?
S.53 Law of Property Act 1925
What are the formalities for an equitable interest in land?
All interests (both legal and equitable) must be in writing and signed.
What is the exception to s.53 Law of P Act?
Constructive, implied and resulting trusts.
Where can the formalities for a contract for the sale of land be found?
S.2 Law of Property (Miscellaneous Provisions) Act 1989.
What are the formalities for a contract for the sale of land?
- in writing
- with express terms
- signed by both parties
What would happen if the formalities for a contract for the sale of land were ignored?
The contract would be void unless it was already completed (in which estoppel could be argued).
Where can the requirements for a deed be found?
S.1 of the Law of Property (Miscellaneous Provisions) Act 1989.
What are the requirements for a deed?
- Signed
- In writing
- Witnessed
- Expressed as a deed
- Delivered as a deed