Registration / offical copy Flashcards
What is the mirror principle?
- The register should reflect all matters that the property has the benefit of and all the matters that the property is subject to, it should be a clear and comprehensive account of the ownership and rights that benefit and burden a piece of land.
- However there are ‘overriding interests’ that are capable of binding the property even though they are not registered on the title.
- An example of an overriding interest is a legal lease that is granted for a term of 7 years or less
- With the exception of those deemed by the LRA 2002 to be ‘overriding’, only interests that have been correctly entered on the register will be enforceable against a purchaser.
What is the curtain principle?
Reflects the ideal that the register should be the sole source of info for purchasers. Purchasers need to only be concerned with the legal ownership of the estate and not what “lies behind the curtain” aka any trusts that exist
What is the insurance principle?
The accuracy of the register is guaranteed by the state. If there is an error, the register will be corrected and anyone who has suffered any loss will be compensated (s23 LRA 2002)
- state indemnity
What will the property register in an Official Copy contain?
- FREEHOLD / LEASEHOLD (i.e. nature of legal estate)
- Address with reference to a title plan
- Proprietary rights that benefit the land (e.g. the property benefits from a right of way over another property – an easement)
What will the Proprietorship Register of an Official Copy contain?
- Details of owner of the legal estate
- The class of title, such as title absolute, possessory title
- Any personal covenants given by the current owner to the former owner, the most common being an indemnity covenant
- Any restrictions on the owner(s) ability to deal with the land – such as a mortgage restriction preventing a sale without lender’s consent, or notification that the land is held on trust.
What will the Charges register in an Official Copy contain?
it contains the details of any proprietary rights that burden the land.
- Mortgage(s)
- Burdens on the land such as restrictive covenants, positive covenants and easements over the land
- Notices
- Leases granted out of the title
What are the different classes of title?
Absolute, possessory, qualified and good leasehold (just for leases)
What is an Absolute Title?
- This is the best form of ownership
- The land is only bound by interests that are registered on the title or overriding interests.
What is a Qualified Title?
- An owner may be registered with qualified title if the Land Registry is of the opinion that the title has some defect which it will then specify on the register.
What is a Possessory Title?
- the applicant is in possession of the property or is in receipt of rents and profits and there is no other class of title that can be given.
- Where there are no title deeds to prove ownership or the deeds have been destroyed Possessory Title would be given.
- It is usually given to those with a claim under ‘Adverse Possession’ or ‘Squatters Rights.’
Possessory title may mean that third party interests created before the date of first registration will bind the property even though these are not noted on the title.
What is a Good Leasehold Title?
- Good leasehold title will be granted where the Land Registry is satisfied as to the title of the leaseholder only and not the freeholder.
- This could be the case where the freehold title is unregistered and where the applicant fails to submit evidence of the freehold title when applying to register his leasehold title.
