Registered Land Flashcards
In unregistered land, what searches must be made prior to completion?
Detailed investigation of title deeds and searches of the land charges register
In registered land, what should the register of land alert a potential buyer to?
What is actually being bought, including any beneficial rights over neighbouring land.
Any rights which third parties may have in land.
What happened in 1925 in England and Wales?
Various parts of England and walkers were designated as compulsory registration areas.
What happened in December 1990?
All land in England and Wales was designated as falling within a compulsory registration area.
N.b. Not all land was registered. It becomes registered only on a disposition of the land.
What is a disposition and what do they trigger?
Since the introduction of the Land Registration Act 2002, a disposition is either:
- A sale of the legal freehold; or
- Creation or sale of the legal lease with more than seven years left to run
These dispositions trigger compulsory registration.
In 1998, as well as sales, what also triggered compulsory first registration?
Gifts
Assents by personal representative’s
Court orders
First legal mortgage of property
How are the triggers for compulsory registration governed?
s6 Land Registry Act 2002
What came into force in October 2003?
Land Registration Act 2002
How is the system in registered land governed?
Land Registration Act 2002 and by the Land Registration Rules 2003.
What are the advantages of registered land over unregistered land?
•removes the need for repeated examinations of title deeds upon every dealing with the land, as is necessary in unregistered land, reducing costs.
A complete record of interests which exist in connection with a registered title can easily be discovered.
An accurate plan for each parcel of registered land is available.
The Conveyancing process is made easier
Drafting is reduced to form filling exercises which is simpler and quicker for many transactions.
The register establishes a record of proprietors of the land
Compensation is payable if errors or mistakes are made by the Land Registry as the system is state-guaranteed.
Describe the mirror principle.
The register should reflect the totality of estates and interests that exist in or over a particular plot of land. This known as the mirror image.
There are 4 types of interest in registered land - registered estates, interests protected by entry on the register, registered charge and interests which have orverriding status. All of these interests appear on the register except interest with overriding status.
Overriding interests are seen as a crack in the mirror as they bind the world irrespective of notice.
Describe the curtain principle.
To keep certain interests off of the register. This occurs when the purchaser has no need to concern themself with equitable interests behind a trust.
The register screens the purchaser from information that they do not need.
The purchaser is protected against these interests by the principle of overreaching. The purchaser takes free of equitable interests behind a trust provided that the purchase money is paid to at least two trustees.
Describe the insurance principle.
The register is deemed to give an absolutely correct reflection of title.
If a loss is suffered through mistake or error, then the injured party should be compensated.
The land Registry seeks with this by altering the register where necessary and indemnity where loss has occurred. This is part of the state- guaranteed system.
Name the three registers.
Property register
Proprietorship register
Charges register
Name and describe the three freehold titles.
Absolute title - fee simple absolute in possession. Highest form of title
Qualified title - similar to absolute except that the property is held subject to some defect or right which is specified in register.
Possessory title - granted to a claimant by way of adverse possession
