Nature Of Land

Question 1

What is the full name for freehold

Answer 1

Fee simple absolute in possession

Question 2

What is the full name for leasehold

Answer 2

Terms of years absolute

Question 3

Who is lessee

Answer 3

Tenant

Question 4

Who is lessor

Answer 4

Landlord

Question 5

Who is mortgagee

Answer 5

Lender who owns the mortgage interest in the land

Question 6

Who is mortgagOR

Answer 6

The borrower, the person who owns the legal interest in land, and grants the mortgage

Question 7

What are the 2 stage test for fixtures chattels?

Answer 7

Degree of annexation

Purpose of annexation

Question 8

What is the test for the degree of annexation>

Answer 8

How firmly affixed is the object to the land?

Is it easily removable? Is it on its own weight>

Question 9

What is the test for the purpose of annexation?

Answer 9

WHY has the object been attached to the land?

This takes PRIORITY over the degree of annexation

Question 10

What case law is it do with architectural design of the property>

Answer 10

D’Eyncourt

Question 11

What are the two types of estates in land?

Answer 11

Freehold and leasehod

Question 12

What is freehold estate?

Answer 12

Capable of being inherited

Lasts forever

Absolute, not conditional on anything

Immediate right to possession

Question 13

What is leasehold ?

Answer 13

Tenant is granted exclusive possession of land for a fixed period

Cannot last forever

Carved out of superior interest.

Can be fixed or periodic

Question 14

What is the difference between a fixed leasehold and a periodic leasehold?

Answer 14

Fixed term leaes can be for any period - provided there is a max duration

Periodic is for one period, that goes on extending itself automatically, until landlord or tenant terminate it by notice.

Question 15

What is set out in s 1(2) of LPA?

Answer 15

Interest in land that are capable of being legal

Question 16

What interests are capable of being legal under s 1(2) LPA?

Answer 16

Easements, profit, mortgage, rent, interests from statute, right of entry

Question 17

What interests are equitable by nature?

Answer 17

Beneficial interest under trust

Restrictive covenant

Estate contract

Question 18

What is a statutory right?

Answer 18

S 30 of Family Law Act, creates home rights.

Non-owning spouses

Have a right in land, provided they are legally marred, and the home is intended to be matrimonial home.

Question 19

Are home rights an interest in land?

Answer 19

No, they exist INDEPENDENTLY of any equitable interest arising under trusts.

Question 20

What is a licence?

Answer 20

Personal right, not an interest in land.

Binding only between original parties

Question 21

What are the formalities of creating a legal estate or interest?

Answer 21

S 52 LPA

Deed os required

Deed must be in: writing, clear on its face, signed, witnessed (1 witness), and delivered

Question 22

What are the exceptions to the rule of deed for legal estate?

Answer 22

Short term leases, they require no formalities for creation.

Parol leases, created orally.

Question 23

What must a lease have to be a Parol lease exception?

Answer 23

Leaes must be for 3 years or LESS (include periodic lease)

Lease must take effect in possession, immediately

Tenant must pay best rent which can be reasonably obtained

Landlord must NOT charge a fine or premium (one off capital sum)

Question 24

What are teh 2 stages for contract of creation or transfer of rights of land?

Answer 24

Investigation of title leading up to exchange of contracts

Completion when the legal estate is created or transferred

Question 25

What must all contract for the creation or transfer of rights in land comply with?

Answer 25

Writing Incorporated ALL expressly agreed terms in 1 document Be signed by or on behalf of the parties

Question 26

What are the formalities for the creation or transfer of an EQUITABLE lease?

Answer 26

By grant through equity (restrictive covenant) or equitable right, by contract, by trying to grant legal and failing, by express trust

Question 27

For equity to realise a contract, what must be present ?

Answer 27

A contract Complying with s 2 of LPMPA Clean hands

Question 28

What is s 2 LPMPA

Answer 28

Contract must be: N writing Incorporate all express terms Signed by or behalf of parties

Question 29

What are the 5 steps of determining if a interest is legal?

Answer 29

1: identify interest 2: is interest CAPABLE of being legal or equitable by nature? 3: have right formalities been used? 4: is the interest capable of being legal, but there is no deed? 5: is it legal, equitable or statutory?