s29 LRA 2002

Question 1

A purchaser of a registered estate for valuable consideration buys subject to… (1, 2a, 3a) plus statues

Answer 1

1. Registered charges e.g. registered mortgage - s29(2)(a)(i) LRA 2002
2. Interests which override the disposition - s29(2)(a)(ii) LRA 2002
   a) Not on the title but binding nonetheless
3. Interests protected by entry on the register - s29(2)(a)(iii)
   a) Already on title register when buyer buys

Question 2

Where are registrable charges noted?

Answer 2

Charges Register

Question 3

Registrable charges must be…

Answer 3

Registered to take effect in law, otherwise will be in equity only

Question 4

Registrable charges - Not possible to create…

Answer 4

Legal mortgage by way of demise in registered land

Question 5

Interests subject to entry on the register - notices

Answer 5

s32 LRA 2002

Question 6

Where are notices found?

Answer 6

Charges Register

Question 7

What interests do notices protect? (3)

Answer 7

Interests which aren’t capable of substantive registration
Equitable interests e.g. covenants, contracts
Legal interests which aren’t registrable interests e.g. legal easements, legal charges

Question 8

Where are registrable leases noted?

Answer 8

On the freehold title in addition to having their own title number

Question 9

Interests subject to entry on the register - restrictions

Answer 9

s40 LRA 2002

Question 10

Where are restrictions found?

Answer 10

Proprietorship Register

Question 11

What do restrictions prevent?

Answer 11

Disposals other than in accordance wit the terms of the restriction

Question 12

Restrictions prevent disposals other than in accordance with the terms of the restriction (1a, 2a)

Answer 12

1. Controlling the sale of trust property
   a) To ensure overreaching takes place
2. Compliance with other agreements
   a) E.g. no sale without consent of third party

Question 13

What is overreaching?

Answer 13

A conveyancing device applicable where property is subject to a trust

Question 14

How does overreaching work? plus statute

Answer 14

The interests of beneficiaries under a trust are transferred from the property to the sale proceeds - s27 LPA 1925

Question 15

What does overreaching apply to?

Answer 15

Only applies to equitable interests held under trusts of land

Question 16

To overreach, who must the purchaser pay?

Answer 16

2 or more trustees (all if more than 2)

Question 17

Interests which override (2 statutes)

Answer 17

Sch 1 and 3 LRA 2002

Question 18

Sch 1 LRA 2002

Answer 18

Interests which override a first registration

Question 19

Sch 3 LRA 2002 (2)

Answer 19

Interests which override registered dispositions

They don’t require entry on the register to bind the purchaser

Question 20

Interests which override Sch 3 Para 1 LRA 2002 (2)

Answer 20

Legal leases not exceeding 7 years

Not equitable leases

Question 21

Sch 3 Para 1 LRA 2002 doesn’t include… (2)

Answer 21

1. Future leases (take effect 3 months after grant)

2. Discontinuous leases - registrable

Question 22

Sch 3 Para 2 LRA 2002

Answer 22

Interests of a person in occupation

Question 23

Sch 3 Para 2 LRA Interests of a person in occupation (2)

Answer 23

Limited to land you are occupying

Person must be in actual occupation

Question 24

Sch 3 Para 2 LRA 2002 cannot be claimed if… (3)

Answer 24

Occupier didn’t disclose interest when asked by purchaser
Occupation wasn’t obvious under reasonable inspection of the land
Purchaser didn’t know of the interest

Question 25

Sch 3 Para 3 LRA 2002

Answer 25

Legal easements and legal profits a prendre which haven’t been expressly granted

Question 26

Sch 3 Para 3 LRA 2002 doesn’t include

Answer 26

Legal easements and legal profits that have been granted expressly i.e. by deed as these must be registered
Doesn’t include equitable easements and profits

Question 27

Interests which override (3) plus statutes

Answer 27

Sch 3 LRA 2002
Para 1 - Legal leases not exceeding 7 years
Para 2 - Interests of a person in occupation
Para 3 - Legal easements and legal profits a prendre which haven’t been expressly granted