Chapter 8: Land Law Flashcards
(9 cards)
What is Land?
Land Includes:
- Soil and Earth;
- Airspace Above Needed for Reasonable Enjoyment
- Buildings and Fixtures (Subject to Tax Law); and
- Ground Covered with Water.
What is Land?
Who Owns All Land in England an Wales?
The Crown.
Since 1066
Persons Own Estates and Interests in or Over Land.
What is Land?
Which Tax Act are Fixtures Treated as Part of a Building?
The Taxation of Chargeable Gains Act 1992.
Estates in Land
The Types of Estate are:
- Freeholds;
- Leaseholds; and
- Commonholds
Commonholds are Freehold Estates in Common Land - Not a Seperate Legal Estate.
Leasehold Estates
A Leasehold Estate is Validly Created Provided a Number of Conditions are Met:
- Right to Exclusive Possession
- Certainty of Duration
- Premises Accurately Defined
No Right to Exclusive Possession Means a Licence Has Been Created.
Leasehold Estates
The Following are Obligations of Landlords:
- Tenant Quiet Enjoyment
- Repair and Fitness to Live in
Leasehold Estates
The Following are Obligations of Tenants:
- Pay Rent, Rates and Taxes
- Allow Landlord Visits for Repairs
- Repair Dilapidations and Return to Landlord at End.
Interest in Land
Examples of Legal Interests in Land Include:
- Easements
- Mortgages
- Right of Forfeiture
Sale of Land
The Stages of Selling Land are as Follows:
- Negotiations and Searches
- Exhange of Contracts
- Completion and After Completion
