2 - Transferring Land

Question 1

For exchange to take place, a contract must be… (3 things) and what statute and section number?

Answer 1

1 - in writing
2 - incorporating all terms as agreed
3 - signed by or on behalf of parties
s2 LP(MP)A 1989

Question 2

What are the 3 requirements of creating a valid deed under s1 LP(MP)A 1989?

Answer 2

in writing / make clear on face it is intended to be a deed / be validly executed by parties to it (signed, witnessed, delivered)

Question 3

What is ‘valid execution’?

Answer 3

The deed is signed in the presence of a witness, or signed at direction and in the presence of the individual and attested by two present witnesses. Must be delivered by the individual or someone authorised to the other party, showing intention to be bound

Question 4

When does a buyer become the owner of registered land?

Answer 4

When the transfer is registered at the Land Registry (not on the day of completion). The seller retains the legal interest on trust until registration.

Question 5

When does a buyer become the owner of unregistered land?

Answer 5

The land is transferred immediately on completion (and the sale triggers compulsory first registration, which must occur within 2 months of completion)