Priorities in registered land Flashcards
What are the two fundamental principles underlying land registration as articulated in the Law Commission’s report (Law Com 380, 2018)?
The basic priority rule, where interests created first in time take precedence, and the special priority rule, benefiting registrable dispositions by postponing non-protected interests not recorded in the register.
What is the role of Section 27 of the LRA 2002?
It categorises interests that require registration to be effective, demonstrating the nuances of equitable interests in land.
How does Schedule 3, paragraph 2 of the LRA 2002, and Williams & Glyn’s Bank Ltd v Boland [1981] illustrate overriding interests?
They underscore the protection afforded to those in actual occupation of land, reflecting a pragmatic recognition of informal rights.
What is overreaching and how is it facilitated by the Law of Property Act 1925?(What sections illustrate this?)
Overreaching simplifies conveyancing by subordinating existing interests to later ones, ensuring equitable interests do not encumber legal titles. Facilitated by sections 2(1)(ii) and 27(1).
What case is pivotal in understanding how beneficial interests can be overreached by legal charges?
-Caseto make sure everyone cannot just be given title to property under the guise of overriding interets due to purchasing contributions + previous occupation against that of trustees.
City of London BS v Flegg [1988], demonstrating how rights transfer to the equity of redemption.
How do Paddington BS v Mendelsohn (1985) and Abbey National BS v Cann [1991] contribute to discussions on consent and timing?
They delve into the dynamics of consent, timing, and practical realities of conveyancing, challenging traditional sequential legal steps in property transactions.
-Paddington Building Society v Mendelsohn (1985) = outlines that The equitable interests of occupiers depends on their intention.
-Abbey National BS v Cann [1991] = Actual occupation will not bind a first mortgagee. ( moving furniture in 25 minutes before the legal transfer of the property was not enough for actual occupation as this required some degree of permanence. Consequently, her interest did not override the legal mortgage.)
What are the aims of the Law Commission’s proposals for reform regarding the LRA 2002?
To clarify and refine the LRA 2002, addressing issues such as mistake and rectification processes, and the treatment of nominal consideration in the special priority rule.
What report provides a comprehensive understanding of the intricacies of land registration?
Commission reports, offer critical insights into specific issues like “actual occupation” and the debate on nominal consideration.
