week two

Question 1

what is the new and correct terminology for a computer register or certificate of title

Answer 1

fee simple record of title

Question 2

what is the new and correct terminology for a registered proprietor

Answer 2

a registered owner

Question 3

what does land law contain rules about

Answer 3

dealing with ownership of the land and the interests and rights that other people might have over my land

Question 4

what is an interest or right that other people might have over my land called

Answer 4

an equitable interest

Question 5

if you dishonestly intend to cheat people out of an equitable interest, what might you be guilty of?

Answer 5

fraud

Question 6

how do you protect an unregistered/equitable interest

Answer 6

lodge a caveat to freeze the title

Question 7

what is the doctrine of tenure

Answer 7

the idea that the Crown owns everything, and you only own an estate in the land

Question 8

maori land is a special entity and has its own act. what is that act called

Answer 8

Te Ture Whenua Maori Act 1993

Question 9

what is the different between the property law act and the land transfer act

Answer 9

the property law act 2007 is a wider overlay of rules for land than the land transfer act 2017 which is a registration act

Question 10

what are the 3 types of freehold estates

Answer 10

fee simple, free tail, life estate

Question 11

what is a fee simple estate

Answer 11

the strongest, simplest and best type of estate you can have. This sits underneath the Crowns ownership

Question 12

what is a fee tail estate

Answer 12

an estate of inhereitance, which can only be inherited by a specific group of descendants - these are forbidden in NZ

Question 13

what is a life estate

Answer 13

I give this to Y for life and to X when I die

Question 14

what are the two types of stratum estates

Answer 14

cross leases and unit titles

Question 15

what type of estate is less than freehold

Answer 15

leasehold

Question 16

how does a cross-lease work

Answer 16

both parties own the whole land and all the tenants in common join in leasing each flat to its occupant for 999 years (generally). This is a pretty fragile lease because it is only a lease of the building, not the land, because you all own the land together.

Question 17

what can you think of a cross lease as

Answer 17

a lemon slice

Question 18

in a cross lease, is there part shares of common areas

Answer 18

no, everyone owns the common areas and can use them as they like

Question 19

can you put a trust on a record of title

Answer 19

no, you would have to put the names of the trustees

Question 20

how is a lawyer involved in a trust

Answer 20

they are often the third silent member

Question 21

where you have been unconscionable in your dealings with the property, but it doesn’t amount to fraud, what type of claim can be made

Answer 21

in personam

Question 22

what is the difference between a fixture and a chattel

Answer 22

fixtures are fixed to the land, they cannot be moved and can only be enjoyed in situ.

chattels are independent of land and can be easily moved off

Question 23

why would you want to put land into trust

Answer 23

it protects it from creditors

Question 24

what is a unit title

Answer 24

where you are buying an apartment as part of a complex

Question 25

what is a leasehole

Answer 25

you have a record of title which has a finite point and then the leasehold stops

Question 26

what is the main exception to indefeasibility

Answer 26

fraud

Question 27

who keeps the title

Answer 27

the last person on the title, as long as they are non-fraudulent

Question 28

what is the mortgagees final recourse

Answer 28

to sell up if you haven’t paid - mortgagee sale

Question 29

what can you get if the areas or boundaries were wrongly described

Answer 29

compensation

Question 30

does the government give out compensation for fraud

Answer 30

yes, and then they chase up the fraudster to get the money

Question 31

s 24 (1) title does not pass until?

Answer 31

registration

Question 32

where X and Z are both innocent and Y has committed fraud in between, who loses out

Answer 32

X

Question 33

under the torrens system, land passes by an act of the ___ rather than an act of the __ (as was the case under the deeds system)

Answer 33

state, parties

Question 34

what are the 3 principles of the torrens system

Answer 34

mirror (register accurately and completely mirrors the state of the title)

curatin (purchasers do not need to concern themselves with interests behind the curtain of the register)

insurance (if the mirror gives an incorrect reflection and as a result a person incurs loss, that loss should be met by a state assurance fund)