Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Property Practice > Title Investigation > Flashcards

Title Investigation Flashcards

1
Q

What should a buyer get if a seller cannot show good title

A

Defective titled indemnity insurance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

How long to raise requisitions regarding good title

A

6 working days and cannot do it after exchange of contracts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What can be registered?

A

Freehold
Leasehold with more than 7 years left
Leasehold of any length where right to possession is discontinuous
Leasehold of any length granted to take effect in possession more than 3 months after date of grant
Franchise
Profit a prendre (a right)
Rentcharge either perpetual or more then 7 years left

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

When is unregistered land registered

A

Transfer of freehold
Transfer of lease with more than 7 years left
Grant of new lease of more than 7 years or for any length to take effect in possession 3 months after date of grant
First legal mortgage of freehold or lease of more than 7 years left

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the 4 classes of title

A

Absolute title
Qualified title
Possessory title
Good leasehold title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is absolute title subject to

A

Entries on register
A trustee who has notice of minor interests
Unregistered interests in sch1 and sch3 LRA 2002
Obligations in lease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

When would you have possessory title

A

When you are in possession but don’t have deeds or adverse possession

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is possessory title subject to

A

Same as absolute title but also subject to all adverse interests existing at time of first registration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

When is qualified title granted

A

When there is a defect in the title that cannot be overlooked

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the consequence of having qualified title

A

The states guarantee of title doesn’t apply to the defect

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

When is good leasehold title granted

A

When freehold is unregistered or registered with less than absolute title and applicant doesn’t submit evidence of title of freehold but leasehold interest is sound

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Consequence of having good leasehold title

A

Doesn’t guarantee lease against defects in freehold title or guarantee the freeholder has the right to grant the lease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Can a title be upgraded to absolute

A

Yes if registrar is satisfied or if possessory title for at least 12 years

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Requirements for deeds before 1990

A

Signed sealed and delivered

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Requirements for deeds after 1990s

A

Signed and attested by witness
Clearly intended to be a deed
Delivered ( signed and intended to be bound ) it’s okay for receivers to assume solicitor has authority to deliver

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Can you sign a deed on behalf of someone else

A

Only in their presence and with two attesting witnesses

17
Q

What are the three parts of the register

A

Charges - any incumberabces
Property - describes land
Proprietary - class of land any third party rights

18
Q

Types of third party rights in registered land

A
  1. Registered charges noted on charges register
  2. Unregistered overriding interests (sch1 for first registration and sch3 which overrides registered disposition)
  3. Covenants (positive and negative)
19
Q

What are the two types of overriding interests which override registered dispositions and what is included in them

A

Sch 1 LRA2002- override first registration
Sch 3 LRA2002- overriding registered dispositions

Legal lease of 7 years or less
An interest of a person in actual occupation
Easement or profit (not equitable and not after 13.10.03)

20
Q

What is a covenant

A

A contract between parties to do something or not do something regarding use of land

21
Q

What is a positive covenant

A

Obligation to do something

Doesn’t run with the land unless benefit is connected to burden (the thing you must do) (Halsall)

22
Q

What to do regarding a positive covenant when selling

A

Get an indemnity covenant or a compulsory renewed covenant supported by a restriction

23
Q

When is an indemnity covenant

A

When the seller gets a covenant from the buyer to recover any money if buyer breaches covenant and seller is sued

24
Q

What is a compulsory renewed covenant supported by a restriction

A

Seller gives binding obligation to compel the buyer to enter into covenant with the owner of the other land using same terms as original covenant
And
To ensure successor or buyer does the same

Put restriction on servient land owners title to ensure they don’t sell without obtaining further covenant

25
Q

How many trustees are needed to overreach

A

At least two but if there is more than two it must be done by all of them

26
Q

How many PRs are you required to deal with when purchasing land from them

A

They can act alone if there is only one but if there is more than one then all of them must assent to conveyance ohhhhh

27
Q

How many tenants in common are you required to deal with them purchasing land from them

A

There must be at least two unless they can show they are entitled to act alone because they are solely entitled to the whole estate

28
Q

How many joint tenants must to deal with them purchasing land from them

A

May deal with survivor alone but need proof of death of the other

29
Q

How to discharge a mortgage

A

Use form DS1 and raise requisitions requesting it is removed on or before completion

30
Q

Are restrictive covenants enforceable if they are not registered

A

No must be registered to be enforceable

31
Q

How can you change or remove a covenant

A

Ask the person who benefits from it

32
Q

What should you consider if your searches show the land is subject to a covenant

A

Consider insurance against future breaches

33
Q

Can trustees make a conveyance to themselves

A

Normally a breach of trust and voidable by Bs unless:
Trust instrument allows it
Order of court
They are B under will or intestate
Consent of all competent Bs is obtained
Proof of a pre existing contact in favour of T

34
Q

Effect of death on transfer of property owned by joint tenants

A

Survivorship operates so can deal with survivor alone who are legally and beneficially entitled to whole property. Trust comes to an end on death

35
Q

How to tell is property is owned by joint tenants or tenants in common

A

Check proprietorship register

36
Q

Effect of death on transfer of property owned by tenants in common

A

Legal interest vests in other TinC but beneficial interest vests in PR.
Overreach this trust situation by dealing with at least 2 but definitely all.
If beneficial interest vests in surviving T in C because they are also the PR then trust situation comes to an end

37
Q

What acts as a mortgage offer in residential and simple commercial cases

A

A document issued by the lender which sets out the terms on which it will lend

38
Q

What acts as the mortgage offer in complex commercial cases

A

Lender issues commitment letter with a terms sheet attached followed by a facility agreement setting out the detailed terms of the loan

Property Practice (13 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions