Nature of Land Flashcards
What are the rights that have proprietary status?
Freehold estate - right to possession
Leasehold estate - right to possession
Easement
Mortgage
Restrictive covenant
Estate contract
Beneficial interest in a trust of land
Freehold vs. leasehold estate:
The freehold estate is a legal estate that lasts for an unlimited time.
The leasehold estate is a legal estate that lasts for a certain period of time.
Completion of the deed in registered/unregistered land?
Registered land - transfer.
Unregistered land - conveyance.
Requirements for a deed:
Clear on the face of the document that it is intended to be a deed.
Valid executed - signed by the seller in the presence of a witness, witness signs.
Deed must be delivered/dated.
When does legal title transfer in registered/unregistered land?
In registered land - legal title does not transfer until registration.
Unregistered land - legal title transfers upon completion of the deed.
Compulsory land registration- what are the triggering events?
Transfer of the freehold estate by sale, gift.
Grant of a lease of more than 7 years.
Assignment of a lease of unregistered land with more than 7 years left to run.
First legal mortgage of the freehold or a leasehold with more than 7 years left to run.
Compulsory land registration- what are the triggering events?
Transfer of the freehold estate by sale, gift.
Grant of a lease of more than 7 years.
Assignment of a lease of unregistered land with more than 7 years left to run.
First legal mortgage of the freehold or a leasehold with more than 7 years left to run.
What are the 3 registers that the Official Copies are split into?
- Property register - description of property, proprietary rights that benefit the land.
- Proprietorship register - ownership register, details of owner of legal estate, class of title, restrictions on owner’s ability to deal with the land e.g. mortgage.
- Charges register - details any burden on the land, restrictive covenants, positive covenants, easements, mortgages.
What is qualified title?
The Land Registry is of the opinion that the title has some defects which it will then specify on the register.
What is good leasehold title?
The Land Registry is satisfied as to the title of the leaseholder only and not the freeholder.
What is possessory title?
Applicant is in possession of the property or in receipt of rents/profits.
Squatters rights.
What are the formalities to create a lease over 7 years?
Deed.
Lease must be registered.
Failure to register = an equitable lease.
What are the formalities to create a lease under 7 years?
Deed.
Lease does not need to be registered.
Still takes effect as a legal lease, binding as an overriding interest.
Short lease exception - conditions required for a parol lease:
Lease takes effect in possession (immediately);
Granted at market rent;
Not subject to a fine/premium.
Parol leases don’t need to be registered, only leases over 7 years need to be registered.
Legal interests in land:
A charge by way of legal mortgage;
Easements for a certain term;
Rights of entry.