General Principles

Question 1

Property rights vs personal right

Answer 1

Yeomanns row v cobbe

Question 2

Definition of a property right

Answer 2

Ainsworth: definable, identifiable by a third party, enforceable in it’s nature of assumption by 3rd parties, have some degree of permanence/stability

Question 3

Fee simple/freehold

Answer 3

The right to use and enjoy the land for the duration of the grantee and that of his heirs/successors

Question 4

Leasehold

Answer 4

The right to use and enjoy the land exclusively for a stated period of time

Question 5

Legal/equitable

Answer 5

Is the right capable of being a legal or equitable interest.
Has the right come into existence in the manner recognised

Question 6

Is the right capable of being either legal or equitable?

Answer 6

Section 1 LPA 1925 defines those capable of being legal interests

Question 7

When is a proprietary right legal in practice

Answer 7

Created by deed (s.1 lp(mp) act 1989)

Registered (if a registrable disposition -s.27(1) LRA

Question 8

When is a right equitable in practice?

Answer 8

Excluded from the definition of legal rights
Formalities not complied with
Written contract/instrument (s 53 LPA)
Walsh v Lonsdale

Question 9

What is overreaching?

Answer 9

When the purchaser for value (provided by 2+ trustees) takes the land free from the equitable interests, which take effect in the proceeds of the sale

Question 10

Case where overreaching occurs

Answer 10

Flegg

Question 11

Case where overreaching does not occur - only 1 trustee

Answer 11

Boland