Term
| What happens w.r.t the enfoceability of legal interests on unregistered land? |
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Definition
'Legal rights bind the whole world'
A person with a legal interest will be able to enforce it on unregistered land.
HOWEVER - excluding puisine mortgages (such mortgages are subject to registration as a land charge) |
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Term
| w.r.t the enforceability of equitable interests on unregistered land, what are the three categories? |
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Definition
i) Equitable interests subject to registration under the Land Charges Act 1972 (also includes puisne mortgages)
ii) Equitable interests subject to overreaching
iii) Equitable interests which do not fall into either of the above categories and are thus still subject to the doctrine of notice. |
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Term
| If you have an equitable interest (or puisne mortgage) which is subject to registration under LCA, what happens when it is registered under LCA? |
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Definition
Once registered, the interest will be binding on a purchaser (regardless of the purchaser's state of knowledge)
NOTE - registration doesn't = validity... if it is registered, but not validly created / a valid interest, it will NOT be enforceable |
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Term
| If you have an equitable interest (or puisne mortgage) which is subject to registration under LCA, what happens if it is NOT registered under LCA? |
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Definition
| Non registration of an interest will make it void against certain types of purchasers (s4 LCA 1972) |
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Term
| What is the consequence of failure to register a Class C interest? (excluding estate contracts which = different contracts) |
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Definition
| Failure to register = void against a purchaser for value of ANY INTEREST IN LAND |
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Term
| What is the consequence of failure to register a Class D interest (Including estate contracts, which = class C, but = same consequence as cladd D) |
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Definition
| Failure to register = void against a purchaser of a LEGAL ESTATE for money or money's worth. |
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Term
| Midland Bank Trust v Green [1981] |
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Definition
IF THE PURCHASER IS AWARE OF YOUR NOTICE, BUT YOUR NOTICE SHOULD HAVE BEEN REGISTERED BUT IT WASN'T, THE PURCHASER CAN BUY FREE FROM YOUR INTEREST
W.R.T CLASS C(IV) & CLASS D, PURCHASERS, IF THEY PAY A NOMINAL FEE = OK |
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Term
| Hollington Bros v Rhodes [1951] |
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Definition
AN UNREGISTERED INTEREST WHICH SHOULD BE REGISTERED BY LCA = NON-BINDING ON A PURCHASER... EVEN IF THEY KNOW ABOUT THE INTEREST
An unregistered contract for a lease (equitable lease) was not binding on a buyer of the leasehold reversion despite the buyer having notice of it (the price the purchaser paid had actually been negotiated to reflect the existence of the equitable lease). This was because the equitable lease should have been registered by way of LCA |
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