Unit 1 Flashcards
What is an estate?
Time in land (Walshingham’s case)
What section of the LPA describes what land is?
S.205(ix)
What is a leasehold?
Term of years absolute with exclusive possession (s.1(1) LPA)
Aims of the LPA?
Promote alienability
System to protect property rights
Fragmentation of benefit
Balancing protection of purchaser and those beneficial owners
Trustee obligations
Act in best interests of the trust (S.6 TOLATA)
No duty to obey beneficiaries (s.11 TOLATA)
Where can you find interests capable of being overreached?
S.2(3) LPA
What does S.52(1) state?
All conveyances must be done by deed (except leases in possession not exceeding 3 yrs)
Parker v Taswell
Document signed but not sealed ( court applied the maxim ‘as done which is ought to be done’)
Walsh v Lonsdale
Equitable interest created by a contract to transfer or create a legal estate or interest
Coatswirth v Johnson
Remedy is discretionary
What is root of title?
Most recent conveyance which is at least 15 yrs old (s.23 LPA)
Lloyd v Banks
Actual notice is where the purchaser is told of an interest
Constructive notice
S.199(1)(ii)(a)- you ought to have known by checking
Hunt v Luck
Must enquire as to who is in possession
S.2 LCA 1972
Lists interests that must be registered as a land charge
S.198 LPA
Registration as a land charge is actual notice
Oak Co-operative
The name may be slightly wrong in the title deed but the law will give the benefit of the doubt
S.4 LCA
Non-registration is void as against a purchaser for value
Midland Bank
Strict approach when registering land charges
LPA s.20
May get compensation for hidden land charges
