Land 7 - Registered and Consolidation Flashcards
Property register
Verbal description of the land and a reference to the title plan.
Type of estate - freehold/leasehold
Proprietorship register
Class of title - Absolute, possessory and qualified
Restriction effecting legal estate of land
Name and address of registered proprietor
Easements - benefit of the land.
Charges register
Notice of third-party rights.
First registration s4(1) LRA 2002
Qualifying estate - unregistered freehold and unregistered leasehold with more than seven years to run.
Transfer of estate by sale gift, court order or assent triggers first registration
Assent?
PRs transfer land to a beneficiary under a will
Procedure
Buyer investigates unregistered title, inspects the land and searches the charges register.
Checks for cautions (notification of interest in unregistered land)
Voluntary registration s3(LRA 2002)
Fee to pay, qualifying estate owners can at any time
Legal lease
More than 7 years - must be registered.
Lease given its own title number.
Protected as overriding interest.
Does not trigger the freehold registration
Mortgages
Creation of first legal mortgage - mortgage of freehold unregistered land or mortgage of an unregistered lease with more than 7 years to run would trigger registration of freehold and leasehold respectively
Time limits?
Apply for first registration within two months of the triggering event
If not within time limit?
Transfer - legal estate reverts to transferor- equitable interest held until registration complete
Legal lease - legal lease fails, equitable until registration
Mortgage - Same
Land registry may extend if good reason
Registrable dispositions
Transactions have to be registered themselves
- transfer of registered estate
- legal lease for more than seven years (appears in charges register of landlords title
- legal charge - charges register of borrower’s title - two entries charge and proprietor
- expressly granted legal easement of profit - registered in charges register of the serviant land
Priority of mortgages
Those that appear first in time will rank first
Minor interests
Third party interests
- not capable of substantive registration
-set out in s27 LRA 2002 as registrable dispositions
-overriding interests
Examples of minor interests
estate contracts, home rights, interests under a trust, equitable easements of profit created after 2003, equitable leases and restrictive covenants.
S29(1) LRA 2002
A purchaser of a registered title for valuable consideration takes free of unprotected minor interests
Restrictions
Interests under a trust protected by a restriction (proprietorship register). Buyer needs to implement overreaching.
Entry will prevent later registrable disposition not in terms of restriction
May be entered without consent of registered proprietor
Notices
Charges register (s32 LRA 2002)
Without consent, trust of land cannot be protected by notice (s33 LRA).
Registered proprietor can challenge notice and claim damages for loss.
Overreaching
Purchase money to a minimum of two trustees (who hold the legal estate).
Disposes of beneficial interest.
Interests which override
Legal easements, leases not exceeding 21 years, rights of person in actual occupation.
Buyer of valuable consideration
Takes free except from
Registered charges
Notices
Interests which override in Sch 3