Conv 7

Front 1

All of England and Wales is now a compulsory registration area.. But first registration is not obligatory until...

Back 1

A specified transaction takes place

Front 2

Once a title has been registered, all dealings and dispositions to do with that title require what in order to be completed?

Back 2

All transactions that take place with a registered title require registration of that particular transaction in order to complete it.

Front 3

If a disposition of a registered title takes place, but there is no registration of that transaction with LR, what does that result in?

Back 3

The equitable estate only passes to the buyer or donee until registration takes place.

So the legal estate would still belong to the seller.

Front 4

When a transaction takes place with registered land, how do you register that transaction?

Back 4

Form AP1 (application to change the register)

Front 5

What are the four types of interests in land in registered conveyancing?

Back 5

1. Interests that are registrable as there own separate titles

2. Interests protected by entry in the register

3. Overriding interests

4. Charges

Front 6

Legal mortgages are created by...

Back 6

Deed

Front 7

In order for a charge to be binding it must...

Back 7

Appear on the register

This is in most circumstances, but with LLCs even if not on reg, think still binding..

Front 8

Where in the register will all charges be listed?

Back 8

Charges register (part C)

Front 9

Overriding interest :

There is an old list of overriding interests, and a new list of overriding interests that now apply both to first registration transactions and registered land dispositions.

What is the old statute and section you will find these overriding interests listed

And, what is the new statute

Back 9

Old:

s70(1) LRA 1925

New:

First registration overriding interest:

Sch 1 LRA 2002

Registered land dispositions:

Sch 3 LRA 2002

Front 10

What are the 4 main ways that the LRA 2002 tried to reduce the importance of overriding interests, in order to make the register as accurate and full a record as possible?

Back 10

1. Reduced the scope of some overriding interest

2. Provided that others would be abolished in a set time period

3. Required people applying for registration provide info about overriding interest so they can be placed on register

4. Made it so once an overriding interest registered it no longer kept status as overriding

Front 11

Under the LRA 2002, what are the 6 main types of overriding interests (in Sch 3, so for registered land)

Back 11

1. Leases of 7 yrs or less

2. Certain legal easements and profits

3. Rights of ppl in actual occupation

4. Customary and public rights

5. Local Land Charges

6. Mines and mineral rights

Front 12

What happened to overriding intersts that existed on the old list under LRA 1925, when LRA 2002 came into effect?

Back 12

They kept their overriding interest under transitional provisions

Front 13

If there is an interest that is classified as overriding under the old list (LRA 1925) then would this still be considered as overriding now? Ie post LRA 2002

Back 13

No

In order for it to be an overriding interest it needs to fit the list under LRA 2002

Front 14

Is it true that certain overriding interests lost their overriding interest status in October 2013?

If so what interests were they?

Back 14

Yes

Franchises

Chancel repair

Minorial rights

Front 15

Why did certain interests lose their status as overriding interests?

Back 15

In line with the objective of LRA 2002,to reduce the scope of overriding interests

Front 16

Solicitors will make enquiries about overriding interests.

Name an overriding interest that solicitors may enter a clause about in the contract.

Back 16

Rights of an:

Occupying adult, spouse or 'civil partner'

A clause will usually be put in contract to release those rights

Front 17

Where an occupier has a benefitial interest in the land (by virtue of contribution to purchase) what might have to be done?

Back 17

A second trustee may need to be appointed to overreach any such interest

Front 18

All third party interests that are not a charge and are not an overriding interest, must be what in order to be enforceable against the proprietor?

And if you do not do this, what will it then make that interest?

Back 18

All other interests apart from charges and those that are overriding must be registered in order to be enforceable.

If any such right is not registered then it is void against the proprietor.

Front 19

Prior to LRA 2002, what were the 4 ways to protect a interest on the register?

Back 19

1. Notice

2. Caution

3. Restriction

4. Inhibition

Front 20

What was a notice used for prior to LRA 2002 and what was the effect of a registered notice?

Back 20

Used for:

1. Restrictictive covenants

2. Home rights

3. To note that land certificate has been deposited with another person (for security of a loan)

Efeect was that, any disposition of the registered land then took effect subject to the notice.

Front 21

What is the difference between Home Rights

And property rights that other occupiers have?

Back 21

Home rights:

Are for Marital spouses

They are a personal right, only enforceable if non-owner registers a notice under Family Law Act 1996

Such a notice acts as a charge on register, preventing disposition without written consent of notice proprietor

They give the non-owning spouse right to occupy the marital hime

Property rights of occupiers:

These are general rights of children over 17, spouses, or tenants

Children, spouses will need to sign contract relinquishing rights to occupy

Tenants will need to also consent to leaving

These rights do not prevent disposition - but without relinquishing the right to occupy, the buyer is buying subject to that right

Front 22

What was a caution prior to LRA 2002? And what was the effect of such an entry?

Back 22

A notice shows an established interest - a caution however, shows a claim that a third party says that they have on the property

This could be like money owing

Cautions were considered hostile, as they do not require any form of co-operation from the title owner to register them

The effect of such an entry =

When the LR receives any application pertaining to dealings with that particular title, they will notify the cautioner.

They then have a set period in which to substantiate the claim to the property they say they have.

If proved, then the transaction over the land will take place subject to the caution. If not proved, caution will be removed.

Front 23

If a caution was found to be registered against a title without reasonable cause, and a person suffered loss because of it... Would there be any form of redress?

Back 23

Yes under LRA 1925 if a caution was registered without reasonable cause, and loss suffered - then cautioner liable to compensate them.

Front 24

What was a restriction prior to LRA 2002 and what is its effect?

Back 24

Restriction, places a restriction on the proprietor's disposition ability.

So it will stipulate under what circumstances disposition can happen.

Eg: the restriction of 'no disposition by a sole proprietor'

Front 25

What was an inhibition prior to LRA 2002 and what's its effect?

Back 25

Inhibitions prevented Amy further dealings with the Land until the inhibition was removed.

These were usually used were proprietor was bankrupt, and would put a stop to any transaction on the land until a trustee in bankruptcy was appointed

Front 26

What is a trustee in bankruptcy?

Back 26

A person appointed to deal with the administrations of a person's assets, making sure that creditors are paid from proceeds