Acquisition Flashcards
(13 cards)
Potential acquisition requirements (there are two)
Do you need a deed? This is a formal, signed, witnessed document.
Do you need registration?
Deeds - general rule
s52(1) LPA - All conveyances of land or interests therein are void for the purpose of conveying or creating a legal estate unless made by deed.
The deed exception
Exception made for leases (s54(2)), if:
- Taking effect in possession
- For three years or less
- At market rent
Rules for deeds - LPMPA 1989 s1
S1(1): Abolishes some old rules
S1(2) - Must be clear it is intended to be a deed, and validly executed as a deed by the people making it.
S1(2A) - Presence of a seal does not make it clear that it is intended to be a deed
S1(3) - Requirements for valid execution:
signed, witnessed, delivered
General signed writing rules - LPMPA 1989 s2
Contract for sale or disp of interest in land only made in writing, incorporating all terms in one contract, or where contracts are exchanged, in each.
Further terms as to how the writing may be effected.
s2(5) - does not affect short leases (to which deed exception applies)
Registration - what section requires this?
s27(1) LRA - if a disposition of a registered estate or registered charge is required to be completed by reg, it does not operate at law until relevant reg requirements are met.
What do I need to register for?
(1) Transfer of legal freehold or legal leasehold
(2) Creation of legal leases for more than 7 years or to take effect in possession more than 3 months into the future
(3) Express grants of legal easements
(4) Grant of a legal charge
S1 LPA - Legal property rights
S1(1) Estates which can exist at law: fee simple and legal lease
S1(2): Interests or charges which may exist at law - eg easement, charge.
All other estates and charges take effect as equitable interests.
Anticipation - case, what is it and what does it require?
Doctrine under Walsh v Lonsdale
Where one of the acquisition requirements not met, you may create an equitable property right.
Equity comes in to correct what would otherwise be unjust in the law.
Requirements:
Either: Transfer of legal freehold or legal leasehold
Or creation of legal leasehold, legal easement or legal charge
Plus:
- Need a contract compliant with s2 LPMPA 1989 - agreement, all terms incorporated, signed by both parties.
- Specific performance must be available - ‘must come to equity with clean hands’
Acquiring interests under an express trust requirementsL
Requirements:
Valid declaration of trust (3 certainties) + signed writing under s53(1)b and (c) LPA 1925
Acquiring rights under constructive trust
No special formality: s53(2) LPA
Depends on the CT in question - eg a VPCT trust under anticipation would be following a valid contract for the sale of a freehold, but before the conveyance of the freehold itself
Lysaght v Edwards - VCPT found with contract + spec performance?
Lysaght purchased land from Edwards, who died before the transaction was final. Edwards’ heirs denied the transaction should take place, but the purchaser brought an action for specific performance.
Held that there was a contract and specific performance was available, so a vendor purchaser constructive trust was found in C’s favour.
Requirements for creation of covenants
Formality here is just signed writing - s53(1)(a).
If they want it to run, they of course need a notice and the other reqs we see later.
