REGISTRATION & PROTECTION OF LEASES

Question 1

FORMALITIES

Answer 1

• leases created after the 13th of October are subject to the rules of registration
• TYA is an estate and capable of being legal s1 1 b LPA if over 3 years it will need to be made by deed s52 LPA otherwise only equitable
• except parol lease which is if a lease is under 3 years in length then doesn’t need a deed s54 LPA

Question 2

REGISTRATION

Answer 2

• registration turns on the duration of the lease (term)
• if 7+ years the lease is a registrable disposition s27 LRA so needs registering
• if lease is within 3-7 years then could be protected with a notice at the land registry s32/s34 LRA notice will be evident in charges register on OCEs of FSAP
• 7- years then protected as overriding interest under sch3 para1 LRA only if it is a legal lease

Question 3

LEGAL LEASES AS OVERRIDING INTEREST

Answer 3

• legal leases are capable of being unregistered interests which override first registration or subsequent disposition sch 1 & 3 LRA
• parol lease is exception that falls in s54 2 LPA and does not need a lease if under s54 2 LPA
  It is:
• term- 3- years
• immediate possession- if no immediate possession the lease will need to be registered
• best rent which can be reasonably obtained without taking a fine (no upfront premium paid to the landlord)
• for leases 3-7 years a deed is required

Question 4

EQUITABLE LEASES

Answer 4

• can occur when there is an error in creating deed or failure to register a registrable lease
• Walsh v Lonsdale 1882 shows equity
• to be equitable must be a valid contract the complies with s2 LP MP 89
• to protect an equitable lease u can give notice on register s32-34 LRA
• if you don’t do this only protection would be an overriding interest sch 3 para 2 and will need to show you are in occupation

Question 5

TERMINATION OF LEASES

Answer 5

• end of term
• notice has to be put into terms of lease
• surrender: return of lease to landlord
• merger: tenant buys fee simple so they would merge
• termination by disclaimer: clause implied into every lease which states tenant will not deny the landlord superior title if breach then landlord can forfeit
• forfeiture: landlord can forfeit least if tenant breaches a covenant
• repudiation of breach of contract: based on high court decision this remedy should apply to a lease
• enlargement: s1 53 LPA 300+ years of term and Atleast 200 years can enlarge leasehold into freehold and bring to end
• frustration: frustration of contract applied to leases probably not accepted in modern courts