Interests which "override" other interests in the land-FS

Question 1

Definition: Overriding Interests

Answer 1

Interests in land that are not registered at the Land Registry but still bind purchasers of registered land under Schedule 3 of the Land Registration Act 2002.

Question 2

What is the significance of overriding interests in land law?

Answer 2

Overriding interests bind purchasers of registered land even though they are not visible on the register, potentially affecting a buyer’s rights without prior notice.

Question 3

Which statute currently governs overriding interests in England and Wales?

Answer 3

The Land Registration Act 2002, particularly Section 129 and Schedule 3.

Question 4

What are the three types of interests a buyer takes subject to under Section 129 of the Land Registration Act 2002?

Answer 4

1. Registered charges
   
   2. Registered notices
   3. Schedule 3 interests (Overriding interests)

Question 5

Why are overriding interests seen as problematic in a modern land registration system?

Answer 5

Because they are not visible on the register, making them difficult to discover, and potentially undermining the purpose of transparency in registered conveyancing.

Question 6

What legal effect does an overriding interest have on a purchaser of registered land?

Answer 6

The purchaser is bound by the overriding interest, even if they had no actual knowledge of it at the time of purchase.

Question 7

How did the Land Registration Act 2002 change the treatment of overriding interests?

Answer 7

It narrowed the scope of what qualifies as an overriding interest, in order to balance the need for protection of hidden rights with the goal of transparency in land registration.

Question 8

What is the legal source listing types of overriding interests in registered land?

Answer 8

Schedule 3 of the Land Registration Act 2002, which sets out the specific interests that override registered dispositions.