TOPIC 1: FORMALITIES FOR CREATING INTERESTS IN LAND

Question 1

Old System land definition

Answer 1

system of historical/derivative title: grantee gets no better title than that of grantor

Question 2

How are legal interests created?

Answer 2

1) By deed - s 23B(1) CA

2) By exception (s 23B(2)(d); s 23D(2) CA

Question 3

Per s s 23B(1) Conveyancing Act 1919 (NSW) why is a deed required?

Answer 3

to pass a legal interest incl fee simple, lease, easement etc

Question 4

Requirements to create a legal interest by deed

Answer 4

1) written
2) paper
3) signed, sealed
4) delivered
5) indenting not necessary

Question 5

Creating a legal interest by exception can occur for

Answer 5

short term lease/tenancy (if requirements met) w/o deed - (s 23B(2)(d); s 23D(2) CA

Question 6

5 Requirements for creating a legal interest by exception

Answer 6

(1) Market rent
(2) Without an upfront premium paid
(3) Must give lessee an immediate right to possession
(4) Term not exceeding 3 years, incl. options to extend lease