land law week 3 Flashcards
what are the two types of estates
freehold and leasehold
which type of freehold estate is the only one that can be a legal estate
a fee simple absolute in possession
what types of freehold estates can oly exist in equity
all others that arent afsaip
what is the authority for saying that a fee simple absolute in possession is a legal estate in land
s.1 (1) (a) of the law of property act 1925
what does fee simple mean
that the estate can potentially last forever
what does absolute mean
that the estate gives the owner property rights that are unconditional
what does inn possession mean
that the estate gives the owner immediate property rights
what is the only type of legal freehold that a person can own
a fee simple absolute in possession
what does a fee simple absolute in possession entitle a perosn to
the immediate use and enjoyment of land, and that right lasts forever
apart from fsaip what is the other type of legal estate that a person can own
a term of years absolute
what is a term of years absolute commonly called
a leasehold estate
a leasehold estate can only last for
a specific and defined period of time
how are leasehold estates created
usually created if the owner of a freehold estate grants another person a lease over the land
what is an interest in land
an interest in land gives a personn a right to do something specific on or with the land but doesnt give an immediate right to use and enjoyment of the land as a whole
how many types of legal interest in land are there
five - s.1 2 law of property act 1925
what do legal interests in land do
give the owner a type of property right that is enforceable against the entire world
what happenned in National provincial bank ltd v ainsworth 1965
the courts had to decide if a particular right was a property right or a personal right
what are the facts in national provincial bank ltd v ainsworth 1965
mr ainsworth owned the freehold title to 124 millward road but lived in the house with his wife and their children
mr ainsworth seperated from his wife, who continued to live in the house with their children
after leaving the house mr ainsworth borrowed money from the bank who sought a security and as such mr A granted the bank a charge over 124 millward road
mr A failed to repay so the bank sought to sell the freehold title and evict the wife and children
what did mrs A claim in the case against nps ltd 1965
that the banks charge was not bindig on her
what did the court conclude
that the banks charge took priority over mrs As right to a home
what is common law
system of general law as developed in case law and statutes
what is equity
the system of law that modifies the general common law rules when a strict application of those common law rules would produce unfair or harsh outcomes
why did the concept of equity emerge
to soften the harshness of a strict application of common law rules
the common law was a
system of general rules developed by the royal court that applied to the whole country
