Rights in land Flashcards
What are two types of rights over land?
Proprietary Rights - can be enforced by action in rem - holder of the rights does not have to settle for damages
Personal Rights - can only be enforced for personal right in damages if the right is breached. Only bind the original parties to the right and there can be no recourse against third parties
What rights that have proprietary status appear on the fixed list of rights?
Freehold estate
Leasehold estate
easement
mortgage
restrictive covenant
estate contract
beneficial interest in a trust of land
How can you tell if there is a proprietary right in land?
You cannot see a mortgage or an easement or a lease - it is invisible
What is the definition of a freehold estate
Fee simple absolute in posession
What is a freehold/ leasehold reversion?
Where the residue of an estate after the grant of lease or freehold remains = reversion
What is a commonhold?
Type of a freehold
An estate created out of a freehold registered estate
Designed to meet needs of owners of eg flats where the owners are dependent on eachother
There is a freehold owner - a company that is usually the commonhold association
Owner of each flat is a member
What is the definition of a lease?
Term of years absolute
What is an interest in the land?
Gives the proprietor limited use of the land or a right to do something on the land
It is capable of enforcement against third parties
What is another way to call an interest in land?
An incumbrance
How do you determine if a right is personal or proprietary?
Proprietary rights are in s1 of LPA 1925
Right not recognised in this section will be personal
What are legal interests in land?
An easement
Charge by way of legal mortgage
Rights of entry exercisable over or in respect of a legal term of years absolute
What are equitable interets under s1?
all other estates, interests and charges over land so:
Freehold estates
Estate contracts
Interests in trust of land
Easements granted for an uncertain term
These are recognised as having proprietary status and will take effect in equity
Why is there a distinction between legal and equitable interests?
Because there are different remedies that can be sought for each category
What is the definition of a mortgage?
A bundle of rights granted over a property in exchange for a loan of money
This includes rights to sell and possess the land in the event of default
Who grants the mortgage?
The borrower, not the lender