Taxonomy

Question 1

Legal interests

Answer 1

LPA 1925, s 1(2): -	Easement
-	Profit à prendre
-	Right of entry
-	Rent charge
-	Charge by way of legal mortgage;
all other estates and interests take effect only in equity: s 1(3) LPA

Question 2

Walsh v Lonsdale

Answer 2

Equity can also create rights where no legal rights could be created; no formalities for creation of legal lease followed, but equity gave lease; other examples: proprietary estoppel, constructive and resulting trusts

Question 3

Equitable interest operates

Answer 3

in personam rather than in rem:

Question 4

Co-ownership:

Answer 4

where two or more people own the same estate, there is a trust of land
A trust does not arise where 2 or more people have different estates in the land.

Question 5

Equitable counterparts of legal estates and interests may exist in land: where there is no counterpart estate or interest at law

Answer 5

Example: equitable estate: A, the owner of the legal fee simple in Blackacre, agrees in signed writing rather than in a deed to give B a lease in Blackacre. B now has an equitable lease (Walsh v Lonsdale).

Question 6

Equity of redemption

Answer 6

equitable interest; the right of the mortgagor to redeem the mortgaged property on payment of all moneys due.

Question 7

Equitable lien

Answer 7

equitable interest; where A conveys land to B before B has paid, A has an equitable lien (like a charge) over B’s land for the outstanding sum

Question 8

Equity by estoppel

Answer 8

equitable interest; where A has encouraged B to believe that he has or will acquire an interest in A’s land, and B relies on that to his detriment, A will be estopped from relying on his strict legal rights. B’s equity is enforceable against A and those who take through him (s 116 LRA 2002).