Please enable JavaScript.
Coggle requires JavaScript to display documents.
Property Rights (Binding Rights (s1 LPA 1925 held only 2 major legal…
Property Rights
Binding Rights
Property rights are capable of binding future purchasers or possessors of the land
Many parties can hold property rights for the same piece of land
s1 LPA 1925 held only 2 major legal estates in law
Freehold
Leasehold
Only 2 interests can be created at law
Easements
Charge by way of legal mortgage
Land definition
Defined under the Law of Property Act 1925
Includes corporeal hereditaments as well as incorporeal hereditaments
Enforceability of legal and equitable rights
Interests are enforceable depending on 2 factors
Formality Rquirements
Contracts must be exchanged under LP(MP)A 1989
Contract can only be made in writing and must incorporate all terms of the contract
Purchaser of the land has an equitable interest at this point
Completion of transfer by deed under LPA 1925
Any exchange of land is void unless there is a legal estate created by deed
LP(MP)A 1989 states a deed must be
Clearly intended to be a deed
Delivered as a deed
Executed by the individual as a deed in the presence of a witness
Small few exceptions but is the general rule
Registration Requirements