Land Law
This assignment will discuss some of the interests which can exist in land, and how they can affect a third party who wishes to purchase the property. By considering the creation of such interests, it can be assessed how they are protected against third parties in the registered system and then consider how the protection differs in the unregistered system.
Richard has entered into a written agreement to purchase a freehold estate from Vanessa. He has been informed about the interests relating to the estate. When advising Richard whether he is bound to the interests, it is important to identify all the interests and establish whether they are binding. There are three types of propriety rights which can exist at law; they are property rights, personal rights and equitable property rights.
The first interest to consider is the lease given to Simon. To establish whether Richard will take subject to the interests one would need to consider whether the interest is capable of being legal. A lease has the potential of being created at law, as it is one of the two legal estates listed under s.1 (1) (b) Law of Property Act 1925, as a term of years absolute. The next question would be to consider whether it was created in the correct manner complying with the formalities of creating a legal estate. As per s.52 (1) of the LPA legal leases over 3 years must be created by using a deed, only then it is capable of being recognised in law. Another requirement would be that some leases will only be classed as legal leases if they have been registered with the land register.
There are different categories of leases, depending on the requirements which are needed to be fulfilled when creating them at law. The first types of leases are those shorter than three years, the second type of leases are those which are longer than 3 years but less than 7 years. As the lease was created in 1990, it has already been 20 years and so the lease does not fall within these categories. The
Richard has entered into a written agreement to purchase a freehold estate from Vanessa. He has been informed about the interests relating to the estate. When advising Richard whether he is bound to the interests, it is important to identify all the interests and establish whether they are binding. There are three types of propriety rights which can exist at law; they are property rights, personal rights and equitable property rights.
The first interest to consider is the lease given to Simon. To establish whether Richard will take subject to the interests one would need to consider whether the interest is capable of being legal. A lease has the potential of being created at law, as it is one of the two legal estates listed under s.1 (1) (b) Law of Property Act 1925, as a term of years absolute. The next question would be to consider whether it was created in the correct manner complying with the formalities of creating a legal estate. As per s.52 (1) of the LPA legal leases over 3 years must be created by using a deed, only then it is capable of being recognised in law. Another requirement would be that some leases will only be classed as legal leases if they have been registered with the land register.
There are different categories of leases, depending on the requirements which are needed to be fulfilled when creating them at law. The first types of leases are those shorter than three years, the second type of leases are those which are longer than 3 years but less than 7 years. As the lease was created in 1990, it has already been 20 years and so the lease does not fall within these categories. The
Bibliography: Books * B McFarlane, N Hopkins, S Nield, Land Law text, cases, and material, OUP, Gosport, 2009 * Walsh v Lonsdale (1882) 21 Ch D 9 * Williams & Glyn’s Bank Ltd v Boland [1981] A.C. [ 1 ]. B McFarlane, N Hopkins, S Nield, Land Law text, cases, and material, OUP, Gosport, 2009, p63 [ 2 ]