Property, Land and Equity
Core concepts
Understand the distinction between real and personal property, legal and equitable interests, and the doctrine of estates. Study freehold and leasehold, co-ownership (joint tenancy and tenancy in common), and the rules of severance. Learn registration of title, priorities, easements, covenants, and mortgages. Equity contributes trusts, fiduciary duties, equitable remedies, and the maxims.
Traps
Questions test whether an interest is legal or equitable and whether it binds a purchaser. Registration often determines priority. Distinguish a licence from a lease; exclusive possession is decisive. Restrictive covenants run in equity, not at law. Severance of a joint tenancy requires an act, not merely intention.
Worked example
Two owners hold as joint tenants. One transfers her share to a third party without the other's knowledge. That transfer severs the joint tenancy in equity, creating a tenancy in common. On death, the deceased's share passes under her will rather than by survivorship.
Rule of thumb
For any land problem, ask: what interest, legal or equitable, registered or not, and does it bind the purchaser? Then apply priorities and remedies.