Overriding Interests Flashcards
1
Q
What are overriding interests?
A
✅ Legal leases ≤7 years.
✅ Legal easements implied or prescribed.
✅ Rights of persons in actual occupation (overreaching applies only to this equitable interest).
2
Q
Overreaching
A
S 27 Law of Property Act 1925: provided purchase monies are paid to at least 2 trustees, purchaser of land need not enquire as to the trusts of affecting any land, and they will take the land free of the trusts
* BFP who overreaches, takes legal title free of any beneficial interest based on a trust
* Criteria for overreaching a beneficial interest:
* (1) BFP is buying the legal estate
* (2) BFP pays money to all trustees; and
* (3) There are at least two trustees
