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Land Law > Legal Estates, Legal Interests And Equitable Interests In Land > Flashcards

Legal Estates, Legal Interests And Equitable Interests In Land Flashcards

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1
Q

What statutory provisions are the forms of land contained in?

A

Law of Property Act 1925

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2
Q

What are the two types of legal estates?

A

Freehold and leasehold

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3
Q

What are the 5 types of legal interests?

A 
Easement
Rent charge
Legal Mortgage
Other similar charges
Rights of Entry
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4
Q

What are the equitable interests?

A

All other interests in land are equitable

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5
Q

What is the definition of freehold?

A

Fee Simple Absolute in Possession

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6
Q

Define Fee Simple Absolute in Possession.

A

‘Inheritable Interest’ ‘By General Heirs’ ‘Interest not subject to anything else’ ‘Interest is current and person is living there or in receipts of profits’

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7
Q

What is the Walsingham Case (1573)?

A

“He who has a fee-simple in land has a time in land without end, or the land for a time without end.”

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8
Q

What is the case of Minister of State for the Army v Dalziel (1944)?

A

“The tenant of an unencumbered estate in fee simple has the largest possible bundle [of rights]”

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9
Q

Where is ‘possession’ defined in law?

A

Law of Property Act 1925 s205(1)

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10
Q

How is a leasehold defined?

A

Terms of years absolute

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11
Q

What benefits does a leasehold allow?

A

An asset that will generally gain in capital value - barring recessions
A regular income - in the form of rent
Ensure the maintenance of the asset by or at the expense of another

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12
Q

Where is term of years absolute defined?

A

Law of Property Act 1925 s205(27)

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13
Q

What are the2 types of obsolete legal estates?

A

Life estates

Entailed estates

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14
Q

What are life estates?

A

On death of the tenant, the estate will revert back to the grantor or his heirs.

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15
Q

Why is a life estate not a legal estate?

A

They are not absolute, they are certain to end on the death of the tenant for life

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16
Q

Define pur autre vie.

A

The life of another

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17
Q

What is an entailed estate?

A

Left to certain heirs (e.g. only male relatives)

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18
Q

Why are entailed estates not classed as a legal estate?

A

No new entailed estates can be created since the Trusts of Land and Appointment of Trustees Act 1996 Sch1 (5)

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19
Q

What is common hold?

A

Register he freeholder of common parts (stairwell) then private company whose members are unit holders

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20
Q

When was common hold introduced?

A

By Commonhold and Leasehold Reform Act in 2002

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21
Q

Why can’t future interests be legal estates?

A

They are due to take place in the future so are not in possession

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22
Q

What are the two types of future interests?

A

Reversion

Remainder

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23
Q

What is reversion?

A

Granting a life interest to someone and when it ends the enjoyment returns back to you

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24
Q

What is remainder?

A

Granting a life interest to someone and remainder to someone else. When the first person dies the second receives the interest

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25
Q

What is an example of an easement?

A

Right of way

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26
Q

What case supports easements?

A

Metropolitan Railway v Fowler [1892]

27
Q

What is the case of Metropolitan Railway v Fowler [1892]?

A

Defined an easement as “some right which a person has over land which is not his own”

28
Q

What is a profit á prendre?

A

Entitles the holder to take something from another persons land

29
Q

What is an example of a profit á prendre?

A

Right to fish, right to take wood

30
Q

How is a profit granted and by what?

A

By express grant

S26 Law of Property Act 1925 but has to be registered

31
Q

What are the three forms of land?

A

Legal estate
Legal interests
Equitable interests

32
Q

How can profits exist?

A

In both law and equity but to be a legal interest must meet the requirements

33
Q

When can a profit be acquired by implied grant?

A

Under rules relating to necessity, common intention and s62

34
Q

Does a profit need to be exclusive?

A

No, meaning it can be enjoyed in conjunction with others

35
Q

What is a rent charge?

A

Occurs when a landowner sold the land for a lump sum and charged the land with the payment of a periodic sum

36
Q

What is the penalty if the rentcharge is paid?

A

The holder ha a right of entry over the property to collect the sum

37
Q

How did the Rentcharges Act 1977 change this area of law?

A

No new ones to be created and existing ones will be brought to an end in 2037

38
Q

What is a legal mortgage?

A

Where the mortgagor grants a mortgage to the mortgagee by creating a legal charge over his land to act as security for the loan

39
Q

Who is the mortgagor?

A

The landowner

40
Q

Who is the mortgagee?

A

The lender

41
Q

What case related to mortgages?

A

Santley v Wilde [1899]

42
Q

What is the case of Santley v Wilde [1899]?

A

“A mortgage is a conveyance of land or an assignment of chattels as security for the payment of a debt or the discharge of some other obligation for which it is given”

43
Q

What is a right of entry?

A

The right of a landlord to forfeit a lease to observe the terms of the lease

44
Q

What form does right of entry have to be to be enforceable?

A

Legal

45
Q

Name 4 equitable interests in land.

A

Restrictive Covenants
Beneficial Interests Under a Trust in Land
Life Interest
Interests Failing the Formal Requirement for their Creation in Law

46
Q

What is a restrictive covenant?

A

A covenant used to maintain the character of residential areas

47
Q

What’s an example of a restrictive covenant?

A

No aerials in the front of house

No caravans on drive

48
Q

What is a beneficial interest under a trust of land?

A

The legal estate is held on trust by trustees for the benefit of the beneficiaries, who holds the equitable estate

49
Q

When is an example of a beneficial interest?

A

A minor inheriting a property would have a beneficial interest and trustees, appointed by the deceased would maintain the legal estate for the minor

50
Q

What is a life interest?

A

Interest will last for the life of the person whom it was granted, or for another person where granted

51
Q

What is an interest failing the formal requirements for their creation in land?

A

Where someone attempted to create a legal interest but the formalities were not met so created an equitable interest instead

52
Q

What are the requirement for a legal estate / interest to qualify?

A

Must be listed in s1 and must satisfy the formal requirements

53
Q

Where are the requirements for a deed set out?

A

S1 Law of Property (Miscellaneous Property) Act 1989

54
Q

What are the requirements for a deed?

A
  1. Document makes it clear that it’s intended to be a deed
  2. The deed is executed (signed) by the persons making the deed
  3. In the presence of a witness who verifies that persons signature
  4. It is delivered as a deed by the person who signed it
55
Q

What are the exceptions for short leases regarding deeds?

A

Less than 3 years
Taking effect in possession
At an open market rent without payment of a premium

56
Q

How can a short lease with the exception be created?

A

Parol (orally) without a deed

57
Q

If a legal estate is transferred to a minor, what happens?

A

Only the equitable interest will be transferred, the legal estate will remain with the transferor who will hold the legal interest as a trustee for the minor

58
Q

What statute must you satisfy if you are creating a contract for sale or other disposition?

A

S2 Law of Property (Miscellaneous Provisions) Act 1989

59
Q

What are the requirements when creating a contract for sale or other disposition?

A
  • Made in writing
  • Incorporate all terms in one document
  • Must be signed by each party
60
Q

What happens if you fail to meet the requirements for creating a contract for sale or other disposition?

A

Will render the contract non-existent

61
Q

How must an express trust be delivered?

A

Must be in writing and signed

62
Q

Where are the requirements for an express trust stated?

A

S53(1) Law of Property Act 1925

63
Q

How must an implied trust be delivered?

A

No writing is required nor a contract

64
Q

Where are the requirements for implied trust stated?

A

S53(2) Law of Property Act 1925

S2(5) Law of Property (Miscellaneous Provisions) Act 1989

Land Law (6 decks)

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