Land Law SUMMARY

Before 1925 estates were divided into: 1. Estates of freehold – period of time that is fixed, but uncertain, e.g. for life. 2. Estates less than freehold (leasehold estates) – period of time that is fixed and certain, e.g. 99 years. There were three estates of freehold (real property – dispossession = land recoverable):A 1. Fee Simple – now the only legal estate, “fee simple absolute in possession”. The Fee Simple lasted as long as the estate owner had heirs to inherit the land. If estate owner makes a will disposing of the land, the fee simple will continue in the hands of the new owner named in the will. If the original owner dies without leaving a will, the land will pass in accordance with rules specified in s45 Administration of Estates Act 1925. 2. Fee Tail or Entail– now only an equitable interest in land The entail could be inherited but only by direct descendants of the original owner, e.g. children, grandchildren, etc. Since 1 January 1997 it has not been possible to create new entails. 3. Life estate– now only an equitable interest in land The Life estate lasted for the life of the estate owner or of some other person. There were two types of leasehold (personal property – dispossession = damages): 1. The fixed term, e.g. for 99 years 2. The periodic tenancy, e.g. weekly, monthly, quarterly, yearly – continues from period to period until terminated by notice to quit The general rule is that the lease must be for a certain period (Lace Chantler) Conditional and determinable interests 1 The estate could be modified by the owner to suit his own purposes. These modifications fall into three groups: 1. Determinable interests – the interest terminates automatically when the specified event occurs, e.g. “To X until he becomes a solicitor” 2. Condition precedent – the recipient will not receive the property unless the specified event occurs, e.g. “To X if he becomes a solicitor” 3. Condition subsequent – if the specified event occurs, the grantor has a right to re-enter the land and terminate the interest, e.g. “To X, but if he shall become a solicitor, remainder to Y”. Future Interests An estate owner could make a grant of lord to start in the future. They fall into two categories: 1. Reversion – occurs automatically when the grantor disposes of less than his full interest in the property, e.g. A holds a fee simple and grants an entail (only to direct descendants who are male), when the entail terminates the property reverts to A or to his estate if he has died 2. Remainder – occurs when a grant includes the grantor’s entire interest, but some interests are created to take effect after others, e.g. A grants his land to X for life, remainder to Y for life, remainder to Z in fee simple.