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Land Law. Large Group 13 Registrable Interests. 1. Introduction. A purchaser for valuable consideration is subject to: Entries appearing on the register Unregistered interests which override the Register. 1. Introduction. Registrable dispositions
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Land Law Large Group 13 Registrable Interests
1. Introduction A purchaser for valuable consideration is subject to: • Entries appearing on the register • Unregistered interests which override the Register
1. Introduction • Registrable dispositions • Interests affecting a registered estate • Trust interests • Overriding interests
2. Registrable dispositions • Listed in s27 LRA 2002 • Must be completed by registration • Include legal mortgages, expressly created legal easements and leases for more than 7 years • Protected by a notice in the Charges register
Overreaching a trust interest • Monies paid to all trustees • There must be at least two trustees (or a trust corporation) • The buyer is acquiring a legal estate
Definition of a Notice s.32 (1) LRA 2002 “An entry in the register in respect of the burden of an interest affecting a registered estate or charge”
Definition of a Restriction s.40 LRA 2002 “an entry in the register regulating the circumstances in which a disposition of a registered estate ... may be the subject of an entry in the register”
7. Analysing third party rights • What type of right is it? • Is it capable of being legal? • Are any formalities required? • Is it legal, equitable or statutory? • Is it enforceable against a buyer of the property?
The neighbour in the garden • Easement or licence? • Equitable easement? • Legal easement? • Is there a notice in the Charges register?
The debt collector at the door • A charge by way of legal mortgage? • Is there a notice in the Charges register?
The boat in the garage • An easement of storage? • A legal lease under s54(2)LPA 1925? • An overriding interest?
The neighbour from Hell • Bob the Bodger needs an express legal easement – RD • Client needs a lease – RD or OI, depending on length • [Trespass and possible breach of a right of light?]