Nature of Land Flashcards
What is a proprietary right in land?
capable of binding third parties and future owners. Use/possession of the right can be recovered.
What is a personal right in land?
Binds the original parties only, not a burden on the land.
What are the three legal rights/ interests in land?
Mortgage, easement and right of entry.
What are the three equitable rights/interests in land?
Restrictive covenant, interest in a trust of land, estate contract.
what is a freehold estate?
proprietary right to possess the land indefinitely.
How to transfer a freehold estate?
Pre-exchange, exchange of contracts, completion of the deed, registration of title.
what is a leasehold estate?
have a lease, proprietary right to possess the land for a certain time.
How is a contract valid in exchanging contracts?
contract must be in writing, contain all the agreed terms and signed by both parties in order to be valid.
What are the requirements for completion of a deed?
must be used to transfer the land, must be intended as a deed, validly executed by the seller, must be delivered, signed in the presence of a witness. THEN REGISTERED WITH LAND REGISTERED.
When does legal title pass?
unregistered land- once deed is completed. (but must register land within two months or legal title reverts back to seller)
registered- when registration of legal title takes place.
How to transfer a leasehold estate?
Deed must be used to transfer the lease, lease and deed must be registered at land registry. If lease is unregistered, deed does not need registering.
What are the formalities to create a lease of over 7 years?
deed must be used and deed must be registered at land registry.
wHAT ARE THE formalities to create a lease of 7 years or less?
deed must be used but does not need to be registered. These are overriding interests in land.
How to create a legal lease of three years or less?
- lease takes effect in possession.
- granted market rent.
- no premium (upfront payment) is payable.
what are interests in land?
proprietary rights to use/enjoy the land.
what is a legal easement?
right to use land belonging to someone else e.g right of way. Must be for a certin period or forever to be legal.
for a right of entry, mortgage or easement how would you create them?
granted by a deed and then registered at land registry against the title of registered land.
what is a restrictive covenant?
affects use of land. can only use it for certain purposes. do not need to be in a deed to be validly created. must be signed in writing by grantor.
what is an estate contract?
contractual right to an estate in land e.g entered into a valid contract to buy or lease a piece of land.
how can mortgages and easements be equitable?
easement- uncertain in duration. signed and in writing.
mortgage- if being granted by one of the owners of the land over their share. signed and writing.
what is an overriding interest in land?
interests to which a registered title is subject, even thought they do not appear in the register. binding on registered proprietor and on the person who acquirers an interest in the property.
e.g legal lease of seven years or less do not need to be registered. implied legal easements. and interest held by persons in actual occupation of the land.
what is overreaching?
New owner will not want to be bound by equitable interest and will wanted to ensure the equitable interest is overreached. Purchaser must make sure they have paid moneys to 2 trustees/legal owners/.
what happens if overreaching has not occurred, will the beneficial interest still be binding?
Depends if the beneficiary is still in actual occupation.
actual occupation- still prove they have intention to have an interest in land. must disclose interest upon request or be obvious on reasonable inspection of the land.
what happens with a legal interests with unregistered land>
still binding against future owners.
what happens with equitable interests and unregistered land>
if created post 1926 and has not been overreached than the interest must be protected by the registration of a land charge to be binding.
no land charge= will not bind a purchaser (but will bind a donee).
what is equity’s darling>?
bona fide (good faith) purchaser for value of a legal estate without notice.
VERY RARE TO BE WITHOUT NOTICE.
what is the fixture or chattel test?
degree and purpose of annexation test?
1. is it physically attached to the land?
2. is it part of the architectural design?
3. would it be destroyed by removal?
what are the triggering events for registration under LRA 2002>
- transfer of the freehold estate by sale, gift or court order.
- grant of a lease for a term of more than seven years.
- first legal mortgage of the freehold or leasehold with more than seven years to run.
does the TR1 need witnessing to the signature?
yes
