What Will Be Purchased In A Land Transaction Flashcards
1
Q
Identify the elements that make up a land transaction - to do
A
1
2
Q
Explain the legal requirements for land purchase - to do
A
2
3
Q
Explain the distinction between freehold, commonhold and leasehold property - to do
A
Freehold property also known as fee simple absolute in possession
4
Q
Explain what is meant by ‘legal interests’ and ‘equitable rights’ - to do
A
Legal interests which can exist under s1(2) Law of Property Act 1925 and these are rights over the land of another
Equitable rights are all other rights recognised by the courts under s1(3) Law of Property Act 1925
