Formalities. Flashcards
What are the two steps required for creating or transferring property rights? Which one requires formalities?
Step 1: intention.
Step 2: action.
Step 2 MIGHT require a formality.
What type of things require formalities? There’s 4.
1) testamentary dispositions.
2) interests in land.
3) assignments.
4) other things (ie gurantees).
What is a testamentary disposition?
Any disposition that takes effect on death.
What are the formalities required for wills. Where are these codified?
wills have to be:
1) in writing.
2) signed by testator (or at their discretion).
3) two witnesses present at the same time who see the testator sign and each other sign.
Codified in Wills Act 1837, s9.
To alter a will what do you have to do? Where is this codified?
To follow the same formalities required to make it.
Codified in Wills Act 1987, s21.
What is the formality for transferring land? Where is this codified?
You can only transfer land by a grant.
Codified in Law of Property Act 1925 s51.
You also need signed writing.
Codified in LPA 1925, s53.
What is the formality for making a grant? Where is this codified?
You make a grant by a deed.
Codified in Law of Property Act 1925, s52.
What is the exception for formalities that are needed for transfer of land? What requirements must be met? Where is this codified?
No need for those formalities for short leases IF
1) they take effect in possession, and
2) for a period not exceeding 3 years, and
3) for the best rent without taking a fine.
What is the formality for making a deed? Where is this codified?
1) must be made by a natural person and
2) expressed to be intended to be a deed, and
3) signed in presence of witness, and
4) delivered.
codified in Law of Property (Miscellaneous Provisions) Act 1989, s1.
When does a disposition of a registered estate operate in law? Where is this codified?
It operates at law when registration requirements are met.
codified in LRA 2002, s27(1).
What needs to be registered? There’s 4.
1) transfer of registered estate.
2) grant of a lease of 8 years plus, or were tenant takes possession after more than 3 months after grant, or if tenant has discontinuous possession.
3) grant or reservation of easement.
4) grant of a legal charge.
What assignments require formalities? What are each formality, and where are each codified?
Law of Property Act 1925.
s136 - debt - assigning debt requires writing.
s53(1)(c) - equitable interests require writing.
s52(1), 53(1) - interest in land requires writing.
What are the formalities for a contract for sale of land? Where is it codified?
LP(MP)A 1989, s2.
1) contract must be made in writing, signed by parties.
2) one document must incorporate all the terms.
3) exchange of contracts (two identical documents signed by both parties, each signing a copy).
