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Property 2 - Coggle Diagram
Property 2
interests in registered land
Mostly goverened by the land registration act 2002
made it compulsory for certain triggering events
principles of land regsitration
mirror principle
register should accurately reflect all estate and interests affecting a land
guarantee principle
register offers a state-guaranteed title which recognises the registered proprietor as the legal owner
curtain principle
ideally the register should contain all the relevant information about the land eliminating the need for purchasers to conduct investigations
some interests remain unregistered, crack in the mirror
overriding interests is a significant exception to the curtain principle, the rationale is that some interests are too obvious to require registration or too difficult to register
key provisions of LRA 02
s4
lists events that trigger compulsory first registration
transfer of freehold estate
grant of a new lease of more than 7 years
creation of first legal mortgage
transfer or existing lease
grant of certain rights in land
partition of land
compulsory purchase by a public body
s27
certain dispositions, legal transactions, msut be registered to take effect at law
transfer or ownership
grants of leases over 7 years
creation of legal mortgages
s32
shows the process of entering a notice on the land register to protect third party rights or interests
notices that can protect third party rights
restrctive covenant
easements
contract for sale or lease
options topurchase
overage agreements entitling a seller to additional payment if the land value increased after a sale
certain matrimonial home rights
s33
restrictions on entering notcies
some interests like those under a trust cannot be protected by a notice
s40 allows for the entry of restrictions of the register which can limit how the land is dealt with
types of interests in registered land
freehold estates
leasehold estates with a term of more thn 7 years
legal mortgages
legal easements
interests protected by notice
estate contracts
options to purchase
rights to pre-emption
restrc=ictive covenants
equitable easements
leases grated for a term between 3-7 years
interests protected by restrictiont
typically trust interests
overriding interests
bind a purchase even if they are not registered
p1 legal leases fir 7 years or less
interests of persons in actual occupation
legal easements created impliedly
overreaching in registered land
if the purchase money is paid to two or more trustees a purchaser will not be bound by any trust interests affecting the land
trusts and interests
Implied trusts
more than one person has a beneficial interests in the home
resulting trusts
a party contributes to the purchase price but isnt on the legal title
constructive trusts
there is evidence of a common intention to share the property
ways to protect trust interests in unregistered land
overreaching
if purchase money is paid to two or more trustees then the purchaser is not bound by trust interests
s2/27 LPA 25
trustees beneficial interests transfer from the land to the money
key case: City of London V Flegg
BENEFIT: protects the purchaser by freeing the property of any equitable interests
failure to overreach
the purchaser may still be bound by the interest if they don't qualify as equiaty's darling
equity's darling
a bonda fide (good faith) purchaser of legal estate without notice of equitable interests is equities darling and is not bound by those interests
requirements:
bona fide, in good faith
for value, they pay something valuable
without notice, no actual, constructive or imputed notice of any existing interests
key case: Pitcher v Rawlins
established the criteria to acquire legal estate free from equitable interests and defines what equities darling is
Key case Kingsnorth finance v Tizard
illustrates constructive notice regarding equitable interests
was K bound by T beneficial interest despite her name not appearing on the title deeds
ruled in favor of T finding her to have constructive notice on her beneficial interest
there was evidence of occupation
through ocular checks, physical inspections
overriding interests and doctrine of notice
pre LPA 25 equitable interests only bound a purchaser if they had notice
doctrine of notice
actual notice
purchaser had direct knowledge of the equitable interest
constructive notice
they should have known about the interests if they had conductd a reasonable investigation
imputed notice
if the purchasing agent eg the solicitor knew the purchaser is deemed to have known
does not apply to registered land
key legislation for this
LPA 1925
s1 defines legal interests
s2/27 shows the provisions for overreaching
Land registration act 2002
sch 3 describes the overriding interests
Land charges act 1972
regsitration of euitable interests for unregistered land
interests in unregistered land
classes of registerable charges
class c4, estate contract, equitable leases may be included
class d2 restrictive covenant
class d3 equitable easement
class f spousal rights of occupation unde family law act 1996
Land charges act 1972
requires that these interests be registered agaist the name of the landowner who granted the interests
shown in Midland Bank v Green
unregistered option to purchase was not binding because it was not properly registered
structure to analyse unregistered land
identify if the interest is capable fo being legal, can it be classified under s1 LPA25
determine if the formalities for creation have been followed
creation by deed for legal easements
less strict for equitable interests
check if the interests is registerabke under LCA 72
if the interests is not registerable, has it been overreached?