Nature of land Flashcards
(28 cards)
What does the Land Registration Act 2002 (LRA 2002) govern?
The system of land registration across England and Wales
What are proprietary rights?
- Rights in land that can be enforced by action in rem (use or possession of land can be recovered)
- Holder of right does not have to settle for damages if they are deprived of their right
- Proprietary rights can be enforced against third parties
What are personal rights?
- Right in land that can only be enforced by a personal action for damages if the right is breached
- Only bind the original parties to the right
What rights have proprietary status?
- The freehold estate
- The leasehold estate
- Easement
- Mortgage
- Restrictive covenant
- Estate contract
- A beneficial interest in a trust of land
What three things must be looked at to determine if a right is proprietary or personal?
- Nature
- Creation
- Protection
What does ‘estate’ mean?
A proprietary right of possession
What is ‘commonhold’?
A type of freehold property (not very common)
What does an ‘interest’ in land mean?
- A proprietary right of limited use
- Does not give the right to possess the land in the way an estate does
- Gives the holder the right to do something on the land or restrict what can be done on the land
Under s1(2) LPA 1925, what are considered legal interests?
- Mortgages
- Easements granted for a certain term
- Right of entry
Under s1(3) LPA 1925, what are considered equitable interests?
- Freehold covenants
- Estate contracts
- Interests in a trust of land
- Easements granted for an uncertain term
What is a right of entry?
- A legal interest in the land (LPA 1925 s1(2)(e)
- A right for a landlord to re-enter leased premises and end the leasehold estate in the event of a tenant default or some other specified event occurring
- A rentcharge owner’s right to hold the land if money owed is not paid
- A right of entry in a lease is also known as a ‘forfeiture clause’
What is a restrictive covenant?
- Covenant = a promise relating to the land
- Restrictive covenant = negative in nature
What are the requirements for an easement to be a legal easement?
The easement must be granted for a term equivalent to one of the legal estates
What is an estate contract?
- A contractual right to a legal estate (freehold or leasehold)
What are the key distinctions between legal and equitable interests?
- Remedies
- Enforceability against a third party
What are the ways in which a freehold estate transfer be carried out?
- Sale
- Will
- Gift
- Operation of law
What are the formalities for a sale of freehold estate?
- Pre-exchange
- Exchange of contracts
- Completion of the Deed
- Registration
At what stage do the parties enter into a binding contract?
Exchange of contracts
What are the formalities laid out in LP(MP)A 1989 s2 regarding land contracts?
- Contract must be in writing
- It must contain all of the expressly agreed terms
- It must be signed by both parties
What is the Deed known as if the land is unregistered?
A conveyance
What is a Deed known as if the land is registered?
A transfer
What are the requirements for a valid Deed that are set. out in LP(MP)A 1989 s1?
- It must be clear on the face of the document that it is intended to be a Deed
- Deed must be validly executed
- Deed must be delivered
What are the ways in which a deed can be executed if the seller is a registered company?
- Two directors signing
- One director and witness signing
- One director and company secretary signing
- Affixing the company seal
What is the standard form of transfer deed called?
TR1
