Registered Land: Enforcement of interests Flashcards
What is the Land Registration Act 2002 and what does it govern?
The Land Registration Act 2002 (LRA 2002) is a law that governs the enforcement of interests over registered land. It is administered by the Land Registry, which maintains an electronic register of all registered land in England and Wales.
What is the significance of actual occupation in determining overriding interests?
Actual occupation is significant in determining overriding interests because if a person is in actual occupation of the land, their equitable interest may override a disposition. The court held that B was in actual occupation based on the fact that her belongings remained, her absence was involuntary, and her regular visits demonstrated a continuing intention to return.
What are the three categories of interest/estate under the LRA 2002 that interact with sections 28 and 29?
The three categories of interest/estate under the LRA 2002 that interact with sections 28 and 29 are: 1) Registrable disposition, 2) Interests that must be protected by the entry of either a notice or a restriction, and 3) Overriding interests.
What are the exceptions to actual occupation as an overriding interest?
There are two exceptions to actual occupation as an overriding interest. The first exception is when the holder of the interest fails to disclose it when asked before the disposition. The second exception is when the occupation would not have been obvious on a reasonably careful inspection of the land and the person to whom the disposition is made does not have actual knowledge of the interest at the time.
When might a restriction be entered in property law?
A restriction may be entered when the registered proprietor of the land is bankrupt. In such a situation, the trustee in bankruptcy may enter a restriction to ensure that no disposition of the land may be registered without the trustee’s consent.
How can beneficiaries be protected if their interests are not overreached and they are in actual occupation of the land?
If beneficiaries are not overreached and are in actual occupation of the land, they may have overriding interests under LRA Schedule 3 para 2. This means that their interests will still be binding on new owners of the land.
What are the three categories under the Land Registration Act 2002?
The Land Registration Act 2002 places all estates and interests in land into one of three categories: Registrable dispositions, Interests protected by entry, and Overriding interests.
What is the purpose of overreaching in property law?
Overreaching is a concept in property law that aims to strike a balance between protecting the buyer or lender from pre-existing trust interests and protecting the beneficiary’s position. It operates by detaching the beneficiary’s equitable interest from the land and transferring it into the money paid by the buyer or lender.
What is the purpose of overreaching in relation to beneficial interests behind a trust?
Overreaching is a concept that moves the beneficiaries’ equitable interest from land into money. It ensures that a buyer or lender takes the land free of beneficial interests and protects the beneficiaries by giving them an interest in the money. Overreaching applies to both registered and unregistered land.
How are equitable interests in land protected under the LRA 2002?
Equitable interests in land must be protected by the entry of a notice in the Charges Register of the burdened land. If an interest is protected this way, it will bind subsequent purchasers. However, some interests, such as beneficial interests under trusts and short legal leases for a term of three years or less, cannot be protected by notice.
How does overreaching work in property law?
Overreaching works by ensuring that the capital money (purchase price or mortgage advance) is paid to at least two trustees. This payment detaches the beneficiary’s equitable interest from the land and transfers it into the money, allowing the buyer or lender to hold the property free from any interest held by the beneficiary.
What are the requirements for an implied legal easement to be binding as an overriding interest?
For an implied legal easement to be binding as an overriding interest, it must meet one of the following requirements: (a) the new owner knew about it, (b) the new owner did not know about it, but it was obvious on a reasonable inspection of the land, or (c) it has been exercised within the 12 months immediately before the disposition.
What is the basic rule of priority under the Land Registration Act 2002?
The basic rule of priority, as stated in the Land Registration Act 2002, is that an interest of any kind will take priority over later dispositions. For example, if a man has a registered freehold estate and grants an easement to one neighbor, then enters a covenant with another neighbor, and then sells the freehold to a woman, the woman will take the freehold subject to the pre-existing easement and covenant.
What are overriding interests and why are they contentious?
Overriding interests are interests that will bind a purchaser for value, whether a buyer or lender, even though they have not been protected by registration. Their recognition has been contentious because they undermine the integrity of the register. However, they were retained in limited form in the Land Registration Act 2002.
What is the difference between a notice and the doctrine of notice under the LRA 2002?
A notice, in the context of the LRA 2002, is intended to bring a relevant equitable interest to the attention of a purchaser. It notifies them that the interest will be binding if the purchaser proceeds. The doctrine of notice, on the other hand, is relevant only to unregistered land and is not to be confused with a notice under the LRA 2002.
Why is it important for a purchaser to inspect and raise enquiries about overriding interests?
It is important for a purchaser to inspect and raise enquiries about overriding interests because these interests may bind the purchaser even though they do not appear on the registered title. By conducting inspections and raising enquiries, the purchaser can discover the existence of any overriding interests and make informed decisions.