Topic 4 - Principles of mortgage and property law

Question 1

Conveyance

Answer 1

The transfer of rights in property

Question 2

Property acts of 1925

Answer 2

Law of property
Land charges
Land registration

Question 3

Fee Simple

Answer 3

The right for the property to be inherited on death

Question 4

Absolute

Answer 4

No limits on ownership

Question 5

Term of years absolute

Answer 5

Leasehold estate, which has a limited duration that must be fixed and certain

Question 6

Mortgage by way of legal charge

Answer 6

Owned by the borrower but property is charged with debt

Question 7

Mortgage by demise

Answer 7

Lender owns property

Ownership transfered

Question 8

Tenure

Answer 8

Denotes the way in which title to the property is held . It is taken from the french tenir meaning hold

Question 9

the Lessee

Answer 9

The leaseholder ,

paying ground rent

Question 10

The Leessor

Answer 10

The freeholder

Can create the lease of any length of time

Question 11

Enfranchisement

Answer 11

The right of owners of leasehold properties in a building (egg a block of flats) to join together to buy thee freehold of the building

Question 12

Buying the freehold of a flat

Answer 12

• Building must contain 2+ flats
• 2/3 of flats must be 21+ yrs
• 25% or less non residential
• 50% of leaseholders have to agree

Question 13

Can not buy a freehold if …

Answer 13

• It is part of a charitable trust
• lease is for commercial purposes
• Leaseholder own leases for 2+ flats