Table of Contents
Content......................................................................................................................................................... 1
Acquisition.................................................................................................................................................... 2
1) Deeds........................................................................................................................................................ 3
Summary of key elements of a deed...................................................................................................................3
2) Registration.............................................................................................................................................. 4
Equitable Property Rights.............................................................................................................................. 5
1) Doctrine of Anticipation............................................................................................................................ 5
2) Acquired interests under trusts.................................................................................................................. 6
3) Restrictive freehold covenants................................................................................................................... 7
Priorities....................................................................................................................................................... 7
1) Protected Interests.................................................................................................................................... 8
a) Registered Interests................................................................................................................................... 9
2) Overriding Interests................................................................................................................................... 9
Overreaching.............................................................................................................................................. 11
1) Interests that can be overreached............................................................................................................ 12
2) Transactions that can overreach.............................................................................................................. 12
Transfer of legal freehold..................................................................................................................................12
Transfer/creation of legal lease.........................................................................................................................12
Grant of legal charge........................................................................................................................................12
Grant of legal easements cannot be overreached. (Baker v Craggs (2018) CA)...............................................12
What are the requirements?.............................................................................................................................12
What does valuable consideration entail?........................................................................................................13
What statutory requirements must be met?.....................................................................................................13
3) Trustee related requirements................................................................................................................... 13
Content
- To bind a third party, claimant must show his right falls onto list of property rights in
s1(2)LPA 1925- the numerus clausus principle.
- The list of property rights that are relevant:
i. Freeholds
ii. Leaseholds
iii. Easements
, iv. Charge
v. Beneficiaries’ rights under a trust
vi. Restrictive freehold covenants
- Freeholds: A right to exclusive possession forever.
- Lease: A right to exclusive possession for a certain term.
- Easements: A right to use another’s land (your neighbours) such as:
i. Rights of way
ii. Rights to run water, electricity, sewage
iii. Rights of storage
iv. Rights to park a car.
- Charge: Security interest. For example:
i. I have a freehold worth £1M.
ii. I borrow £200k from a bank and grant them a charge.
iii. I default on the loan repayments.
iv. Bank takes possession and sells the land for £1m.
v. Bank takes £200k from proceeds of sale and gives remainder to me.
- Beneficiaries’ right under trust: In a trust, assets are held and managed by one
person or people (the trustee) to benefit another person or people (the beneficiary).
The aims of the trust:
i. To ensure the subject-matter is used to benefit the objects or the beneficiaries.
ii. To carry out decisions of the settlor.
Beneficiaries’ rights are rights against trustees and 3 rd parties to ensure that the trust is
run successfully.
- Covenants: For example, if Barbie and Ken are neighbors. Barbie grants Ken a
covenant that she will only use her land for residential purposes and not build above
three stores. Barbie sells her freehold to Sasha.
Acquisition
- The four legal property rights that are capable of being acquired are:
i. Freeholds
ii. Leases
iii. Easements
iv. Charges
- The possible transactions that can take place are:
i. Transfer of freehold
ii. Creation or transfer of a lease
iii. Creation of an easement
iv. Creation of a charge
- The requirements to acquire or transfer a right are:
i. Communicated intention to transfer or create a right, by person who has power
to transfer/create. It can be through writing or orally.
ii. Deed (possibly) – s 52 LPA 1925.
iii. Registration (possibly) - s 27 LRA 2002
Content......................................................................................................................................................... 1
Acquisition.................................................................................................................................................... 2
1) Deeds........................................................................................................................................................ 3
Summary of key elements of a deed...................................................................................................................3
2) Registration.............................................................................................................................................. 4
Equitable Property Rights.............................................................................................................................. 5
1) Doctrine of Anticipation............................................................................................................................ 5
2) Acquired interests under trusts.................................................................................................................. 6
3) Restrictive freehold covenants................................................................................................................... 7
Priorities....................................................................................................................................................... 7
1) Protected Interests.................................................................................................................................... 8
a) Registered Interests................................................................................................................................... 9
2) Overriding Interests................................................................................................................................... 9
Overreaching.............................................................................................................................................. 11
1) Interests that can be overreached............................................................................................................ 12
2) Transactions that can overreach.............................................................................................................. 12
Transfer of legal freehold..................................................................................................................................12
Transfer/creation of legal lease.........................................................................................................................12
Grant of legal charge........................................................................................................................................12
Grant of legal easements cannot be overreached. (Baker v Craggs (2018) CA)...............................................12
What are the requirements?.............................................................................................................................12
What does valuable consideration entail?........................................................................................................13
What statutory requirements must be met?.....................................................................................................13
3) Trustee related requirements................................................................................................................... 13
Content
- To bind a third party, claimant must show his right falls onto list of property rights in
s1(2)LPA 1925- the numerus clausus principle.
- The list of property rights that are relevant:
i. Freeholds
ii. Leaseholds
iii. Easements
, iv. Charge
v. Beneficiaries’ rights under a trust
vi. Restrictive freehold covenants
- Freeholds: A right to exclusive possession forever.
- Lease: A right to exclusive possession for a certain term.
- Easements: A right to use another’s land (your neighbours) such as:
i. Rights of way
ii. Rights to run water, electricity, sewage
iii. Rights of storage
iv. Rights to park a car.
- Charge: Security interest. For example:
i. I have a freehold worth £1M.
ii. I borrow £200k from a bank and grant them a charge.
iii. I default on the loan repayments.
iv. Bank takes possession and sells the land for £1m.
v. Bank takes £200k from proceeds of sale and gives remainder to me.
- Beneficiaries’ right under trust: In a trust, assets are held and managed by one
person or people (the trustee) to benefit another person or people (the beneficiary).
The aims of the trust:
i. To ensure the subject-matter is used to benefit the objects or the beneficiaries.
ii. To carry out decisions of the settlor.
Beneficiaries’ rights are rights against trustees and 3 rd parties to ensure that the trust is
run successfully.
- Covenants: For example, if Barbie and Ken are neighbors. Barbie grants Ken a
covenant that she will only use her land for residential purposes and not build above
three stores. Barbie sells her freehold to Sasha.
Acquisition
- The four legal property rights that are capable of being acquired are:
i. Freeholds
ii. Leases
iii. Easements
iv. Charges
- The possible transactions that can take place are:
i. Transfer of freehold
ii. Creation or transfer of a lease
iii. Creation of an easement
iv. Creation of a charge
- The requirements to acquire or transfer a right are:
i. Communicated intention to transfer or create a right, by person who has power
to transfer/create. It can be through writing or orally.
ii. Deed (possibly) – s 52 LPA 1925.
iii. Registration (possibly) - s 27 LRA 2002
