Registerable Dispositions

Question 1

What is a registrable interest?

Answer 1

An interest which is capable of its own separate title and number.

Question 2

What are the types of register?

Answer 2

• property
• proprietor
• charges

Question 3

What are registerable charges?

Answer 3

Legal mortgages

Question 4

What are interests subject to entry on the register (minor interests)?

Answer 4

Interests which cannot have their own title number. Have to be added as a notice alongside another right.

Question 5

What are interested which override?

Answer 5

Interests which are binging without being on the register.

Question 6

Which statue sets out the binding nature of the register (onto the buyer)?

Answer 6

S.29 Land Registration Act 2002

Question 7

What does s.29 refer to?

Answer 7

Registration means that buyers who give valuable consideration (money), are bound by anything on the register as well as interests which override.

Question 8

Where can registrable interests be found?

Answer 8

S.27(2) Land Registration Act 2002.

Question 9

Please list the interests which are registrable (and the correlating sections).

Answer 9

a) a transfer of a freehold/leasehold
b) grant of…
- a lease of more than 7 years
- a future lease (3 months in the future)
- discontinuous lease
d) expressly granted easement/profit
f) grant of a legal charge

Question 10

What is important to note about s27(2)(d) and (f) of the Land Registration Act?

Answer 10

They are not capable of their own title.

Question 11

What is the mirror principle?

Answer 11

The register should provide accurate registration of the ownership of land and the 3rd party rights that affect this.

Question 12

What’s the curtain principle?

Answer 12

The register hides the beneficial ownership of land in a trust.

Question 13

What’s the insurance principle?

Answer 13

If the register is incorrect and someone suffers loss due to this, they will be compensated by HM Land Registry.

Question 14

Where can a registerable charge be found on the register?

Answer 14

On the charges register.

Question 15

Where can notices be found?

Answer 15

S.32 of the Land Registration Act 2002

Question 16

Where can restrictions be found?

Answer 16

S.40 of the Land Registration Act 2002.

Question 17

What are notices and where can they be found?

Answer 17

Used to show an obligation/something that affects the property.
Usually found in the charges register.

Question 18

What are some examples of a notice?

Answer 18

• Equitable interests e.g. covenants and contracts.
  -legal interests which aren’t registerable e.g. legal easements and charges
• registerable leases (has a notice in the freehold as well as its own title).

Question 19

What is a restriction?

Answer 19

Something that controls the power of the registered proprietor to deal with their property.

Question 20

What are the circumstances for restrictions?

Answer 20

• to control the sale of property under a trust by securing overreaching
• Compliance with other agreements- protects commercial agreements/covenants e.g. no sale without consent of 3rd parties.

Question 21

Where can examples of interests which override be found?

Answer 21

Schedule 3 Land Registration Act 2002

Question 22

Please list the interests which override.

Answer 22

• a legal lease for less than 7 years (unless they are future/discontinuous)
• if a person is already in occupation of the land they have an interest in (unless they deny this).
• a legal easement/profit which has not been expressly granted by deed.

Question 23

What is overreaching for?

Answer 23

To protect bona fide purchasers of land and the beneficial rights during the sale of trust property.

Question 24

How does overreaching work?

Answer 24

Overreaching transfers the beneficiary’s interest in the land into an interest in the sale proceeds. This is done when the buyer pays the purchase price to two or more trustees.

Question 25

What ensures that overreaching takes place?

Answer 25

Restrictions which control the sale of property (most common restriction).

Question 26

What is the effect of not registering a registrable disposition?

Answer 26

The disposition will be equitable only and the buyer won’t be bound.

Question 27

How long to register an interest/estate following a trigger event for compulsory first registration?

Answer 27

Failure to register within 2 months means the transaction of the legal estate will be void, taking effect in equity only.

Question 28

What circumstances can special performance also apply to?

Answer 28

An imperfect transfer of a freehold could become a contact to sell the property and SP could be ordered for this.

Question 29

What is included in the registerable interests?

Answer 29

• Legal freehold
• Leases over 7 years
• Future leases (more than 3 months)
• Discontinuous leases
• Franchises
• Profit à Prendre in gross

Question 30

What are the trigger events for compulsory first registration?

Answer 30

• transfer for value
• transfer as a gift
• transfer by means of assent (inheriting)
• grant of a legal lease for more than 7 years (new lease created from free hold)
• transfer of a lease with more than 7 years left unexpired (selling lease)
• grant of a future lease
• first legal mortgage

Question 31

Once registered (following the trigger event), what happens to future dispositions?

Answer 31

S.27 all future dispositions must also be registered.