Flashcards in Registered Land Deck (13)
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1
Mirror Principle:
Register reflects the totality of the rights concerning the title
2
Curtain Principle
Certain types of interest should not inconvenience the purchaser
3
Insurance Principle
Compensation payable for loss suffered by reason of guarantee of title
4
When was compulsory registration introduced?
1990 by the Land Registration Act, before this it was voluntary (MAY BE WRONG)
5
What is the register comprised of?
Property Register: description of property
Proprietorship Register: details of registered owner, nature of title
Charges Register: charges, encumbrances affecting the land
6
First Registration?
Can be voluntary or compulsory, triggers for compulsory registration:
1.) Transfer of a qualifying estate
2.) Grant out of a qualifying estate of a leasehold estate of more than 7 years
3.) Creation of a protected first legal mortgage of a qualifying estate
7
What is a qualifying estate?
Unregistered Legal estate which is: -
-Freehold estate
- Leasehold estate which at time of transfer/grant/creation has more than 7 years to run
8
Duty to apply?
The period for registration is two months after transfer/grant/creation S4((4))
9
Effect of failure?
Failure to register means the transfer/grant/creation of legal estate becomes void (S7)
(still effective in equity though)
10
Subsequent dealings with a registered estate?
Future dealings must be completed by registration including:
-Transfer
-Grant of various leases
-Grant of easements and rent charges
-Grant of legal charge
Transfer operates only in equity until application is made for registration
11
Alteration?
1.) Correcting a mistake
2.) Bringing the register up to date
3.) Giving effect to any estate, right or interest expected from the effect of registration
Schedule 4 Land Registration Act 2002
12
Rectification?
1.) Correction of a mistake AND
2.) Correction prejudicially affects the title of the registered proprietor
13
