equity, estates and unregistered title Flashcards
Ownership Definition
Involving serval incidents including the right to possess, use, manage, income, security and transmissibility
These may not all be present in every case but they collectively define ownership (Honore, 1987)
Land Definition
S205 LPA 1925
land is considered to be physical and incorporeal hereditaments, manors, advowsons, rents and other rights
Property types
real property refers to land
personal property includes movable items
equitable rights
equity, recognises rights not acknowledged in common law courts
provides specific relief like injunctions and specific performance
development
equity resolved defects in common law by offering remedies beyond monetary compensation
New rights and remedies developed in the Court of Chancery
Fusion of Law and Equity
Judicature Acts 1873/5 merged common law and equity courts, applying both rules
In conflicts, equity overrules common law (Judicature Act s.25(11))
Maxims of Equity
Maxims guide equitable decisions, ensuring fairness, clean hands and adherence to substance over form
Equitable interests in land: Trusts
Owners may hold property as trustees with beneficiaries having equitable rights
Includes express trusts, implied trusts (resulting trusts and constructive trust)
Estate contracts
Parties in a contract can enforce specific performance, with equity considering the contract as fulfilled before actual completion
Restrictive covenants
Agreements between property owners can create equitable interests, restricting certain uses of the land
Equity Arising from Estoppel
Promises leading to detriment create equities, allowing individuals to remain in a property based on the promise
Unregistered title/land
Unregistered Land lacks public ownership records, title evidence exists in private deed bundles detailing transactions and possession
Transacting with Unregistered Estates
Buyers verify title by inspecting historic documents.
Unregistered conveyancing can be repetitive, protracted and costly, requiring careful assessment of title quality
Post 1926 Property Legislation: Estates
Before: 3 freehold estates
After: LPA 1925 s.1
estate in fee simple absolute (freehold)
terms of years (leasehold)
Post 1926 Property Legislation: interests 3rd party
third party interests:
easements
profit a prendre
mortages
rent charges
adverse possession
