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Land Registration, s 23 LRA 2002, Now governed by the Land Registration…
Land Registration
Introduction
History
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In 1990, all of England & Wales became subject to compulsory registration
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Rationale
The register should accurately reflect the state of title of the land at any given time - this allows conveyancers to investigate title online with minimal additional inspections, cutting down costs
Purpose & Principles
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The Mirror Principle
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Never fully realised due to overriding interests (interests that don't appear on the register but are binding on the estate and owner)
The Curtain Principle
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If a property is held on trust, purchasers need not be concerned about the beneficial/ equitable ownership of the land - this info is kept off the title
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The Insurance Principle
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If there's an error with the register, it will be corrected and anyone who has suffered any loss will be compensated
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Registered Land
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There's a complete record of all matters relating to it (who owns it and the rights that benefit/ burden it)
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Compulsory Registration
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Triggering Events
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An assent, vesting assent or vesting deed which is a disposition of the freehold/ leasehold with more than 7 years left to run (mainly refers to transfers on death)
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Transfer of the freehold estate by sale, gift or court order
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Classes of Title
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Qualified
An owner may be registered with qualified title if the Land Registry is of the opinion that the title has some defect which it will then specify on the register.
It’s rare to see this in practice.
Good Leasehold
This will be granted where the Land Registry is satisfied as to the title of the leaseholder only and not the freeholder.
This could be the case where the freehold title is unregistered and where the applicant fails to submit evidence of the freehold title when applying to register the leasehold title.
Possessory
May be given by the Land Registry where the applicant is in possession of the property or is in receipt of rents and profits and there is no other class of title that can be given.
Where there are no title deeds to prove ownership, or the deeds have been destroyed, Possessory Title would be given.
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Possessory title may mean that third party interests created before the date of first registration will bind the property even though these aren’t noted on the title.
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s 4 LRA 2002 (first registration) and s 27 LRA 2002 (transactions involving already registered land)
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