Property Flashcards
1
Q
What is overreaching?
A
The process by which equitable rights which exist under a trust of land are removed from the land and transferred to the money (called capital money) which has been paid to purchase the land.
The effect is to give the purchaser automatic priority over equitable interests under a trust.
It can only take place if a transaction is made by at least 2 trustees or a trust corporation
2
Q
What is a mandatory requirements for conveyances in land?
A
Must be in writing + signed
except for leases under 3 years
3
Q
What is a trigger event for unregistered land?
A
Sale of freehold
Legal mortgage
Grant of lease for more than 7 years
4
Q
What are legal interests?
A
- Easement + profits
- Estate contracts (right of entry)
- Puisne mortgages
