Formalities for Transfer of Assets Flashcards
LAND
What section states that all conveyances of land must be done via deed?
S.52 (1) LPA 1925
LAND
What provision states that the deed must be signed by the settlor and a witness who signs it too?
S.1 LP(MP)A 1989
LAND
What provision states that a transferee must register the land they have brought in all cases?
S.19 and S.22 LRA 1925
S.4 LRA 2002
COMPANY SHARES
Which provision states that delivery of a share certificate and a signed STF is required?
S.1 Stock Transfer Act 1963
COMPANY SHARES
What is the CREST electronic system used for?
Some public quoted company shares.
What is needed for the effective transfer of money?
Delivery (physical handover of the assets) is required.
What is needed for the effective transfer of chattels?
Delivery & requisite intention
Re Cole [1964] Ch 175
EXISTING EQUITABLE INTERESTS
Which provision states that the transfer of an equitable interest in a property has to be done via signed writing?
S.53 (1)(c) LPA 1925
What principle was laid out in Grey v IRC [1960] AC 1?
Dispositions of an equitable interest MUST be completed via signed writing under S.53(1)(c) LPA 1925.
What was the principle laid out in Danish Bacon Co Ltd [1971] 1 WLR 248?
An equitable interest must exist at the time of disposition, otherwise it does not require writing under S.53(1)(c) LPA 1925.
What was the principle laid out in Re Paradise Motor Co Ltd [1968] 1 WLR 1125?
Writing isn’t for a disclaimer.
What was the principle laid out in Vandervell v IRC [1967] 2 AC 291?
S.53(1)(c) does not apply where a B owner transfers BOTH legal and equitable title
Is email sign off for S.53(1)(c) sufficient?
Yes! Hudson v Hathaway [2022] EWCA Civ 1648
VIA WILL
What provision states that a will has to be signed in the presence of 2 witnesses who are both present at the same time?
S.9 Wills Act 1837
