LAND LAW WORKSHOP QUESTIONS Flashcards
WHAT IS OVERREACHING?
- When this occurs, the purchaser of the legal estate obtains the legal title free of the pre-existing equitable interests of the beneficiaries under the trust
-These equitable interests then attach to the purchase
monies (capital proceeds of the sale) which are held by the
trustees on trust for the beneficiaries
WHAT ARE THE TWO TESTS FOR DETERMINING WHETHER AN ITEM IS A FIXTURE OR A CHATTEL?
- The degree of annexation (how attached to the land it is)
- The purpose of annexation (why it is there)
WHAT IS THE PRIMARY TEST FOR ESTABLISHING WHETHER AN ITEM IS A FIXTURE OR A FITTING (CHATTEL)?
- If the item is intended to be permanent and to afford a lasting improvement to the building, the thing will have become a fixture.
- If the attachment is temporary and is no more than is necessary for the item to be used and enjoyed, then it will remain a chattel.
WHAT ARE THE THREE SECTIONS OF THE LAND REGISTER AND WHAT WOULD YOU FIND IN EACH?
- Property Register- description of the property and any rights it might benefit from
- Proprietorship Register- names and addresses of owners and any mortgages
- Charges Register- charges or encumbrances
WHAT IS A NOTICE IN THE CONTEXT OF REGISTERED LAND AND LAND REGISTRATION?
- A notice is an entry made in the register in respect of the burden of an interest affecting a registered estate or charge. Notices are almost always entered in the charges register
- A method by which a third party right is protected
WHAT IS A RESTRICTION IN THE CONTEXT OF REGISTERED LAND AND LAND REGISTRATION?
- A restriction makes it apparent from the register that either the powers of the relevant proprietor are limited, or that a prior condition must be met before a disposition can be registered.
- The purpose of restrictions is to regulate registration, not regulate dispositions.
WHAT IS THE MAXIMUM NUMBER OF LEGAL OWNERS TO A LEGAL ESTATE?
4
- If more than 4 are listed it is the first 4
WHAT ARE THE REQUIREMENTS FOR A DEED?
- On the face of it has to be a deed
- in writing
- signed by the people making it or an agent
- witnessed
WHAT ARE THE REQUIREMENTS FOR THE CONTRACT FOR THE SALE OF LAND AND WHAT LEGISLATION DOES THIS COME FROM?
- Section 2 of the Law of Property (Miscellaneous Provisions) Act 1989 states:
- Writing
- Incorporate all the terms which the parties have expressly agreed in one document
- Or where the contracts are exchanged, in each
WHAT ARE THE 2 ESTATES IN LAND CAPABLE OF BEING LEGAL?
- Fee simple absolute (freehold)
- Terms of years absolute (leasehold)
WHAT IS A LIFE INTEREST AND IS IT CAPABLE OF BEING LEGAL?
- Life interest is where the life tenant doesn’t own the property but has a right to live there
- It is a legal right
WHAT IS A RENTCHARGE?
- A rentcharge is an annual sum paid by a freehold homeowner to a third party who normally has no other interest in the property.
- It is effectively a service charge
HOW ARE LEGAL AND EQUITABLE ESTATES AND INTERESTS PROTECTED IN UNREGISTERED LAND?
LEGAL INTERESTS- BIND EVERYONE, EVEN THE IGNORANT- EXCEPT FOR A PUISNE MORTGAGE
EQUITABLE INTERESTS- DEPENDS ON THE DOCTRINE OF NOTICE AND ON THE EXISTENCE OF A BONA FIDE PURCHASER FOR VALUE OF A LEGAL ESTATE (EQUITY’S DARLING)
HOW ARE LEGAL AND EQUITABLE ESTATES AND INTERESTS PROTECTED IN REGISTERED LAND?
- By entry of a restriction or notice on the register, doctrine of notice or by virtue of having the protections of an interest which overrides.
WHAT DOES JOINT OWNERSHIP MEAN?
- Own it together
- Right of survivorship- if one dies it passes to the other
