Lecture 2 - Doctrine of estates Flashcards
whats the difference between legal and equitable rights
legal rights are always enforceable against the lands new owner whilst equitable rights aren’t but are more flexible than legal rights
what is an estate
the right to use and control land and is equivalent to ownership for a slice of time
what is an interest
the right one person enjoys over the land of another
what are proprietary rights
rights as either an estate or an interest
what were the different types of estates pre 1925
freeholds, leaseholds , fee simple, fee tail and life interest
what are leaseholds
right to use and enjoy land as owner for stated period of time
what are the two estates capable of being legal
freeholds and leaseholds
what is fee simple under the lpa 1925 act s1
the right to use and enjoy land for duration of grantees life and that of heirs and successors
what 5 interests are capable of being legal
easements rights or privileges, rentcharges, charge by way of legal mortgage, statutory charge and rights of re entry
what does s1(3) lpa 1925 state about equitable interests
any interest which doesn’t qualify as a legal interest must be an equitable interest
what is the difference between legal and equitable interests
a legal interest is a legal right enforceable against everyone whereas equitable interests were not enforceable against the bona fide purchaser of the legal estate for value without notice
what is the position of legal and equitable rights against 3rd parties in registered land
title to the land is registered and deeds are no longer necessary
legal and equitable interests entered on the land register against the title
overriding interests
overreaching
what is the position of legal and equitable rights and enforcement against 3rd parties in unregistered land
legal rights bind the world
registration of most equitable interests as land charges
certain equitable rights are still binding subject to the doctrine of notice
overrreaching
what is a term of years absolute
a specific type of leasehold estate which grants a tenant the right to possess and use property for a fixed period of time
