GSL Conveyancing & Drafting flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Legal estates

Only two legal estates exist: the fee simple absolute in possession and the term of years absolute. All other estates take effect in equity.

Deed requirements

A deed must be signed by the maker, attested by one witness, and delivered. Delivery may be conditional or inferred from conduct.

Overreaching

A conveyance by at least two trustees or a trust corporation overreaches beneficial interests, converting them into proceeds of sale held on trust.

Adverse possession (registered)

Ten years' adverse possession of registered land allows application under LRA 2002 Sch 6; the registered proprietor is notified and may object.

Overriding interests

Interests binding registered land without registration, including short leases, known easements, and rights of persons in actual occupation (LRA 2002 Sch 3).

Land charge classes

Registrable land charges include C(i) puisne mortgage, C(iv) estate contract, D(ii) restrictive covenant, D(iii) equitable easement, and F family home rights.

Root of title

For unregistered land, a good root of title at least 15 years old, such as a conveyance for value, assent, or legal charge, making title marketable.

Standard Conditions of Sale

Standard conditions (5th edition) apply unless excluded; they govern risk, completion, apportionments, and default, and can be varied by special conditions.

Risk passing

Under SCS 5.1.1, risk passes to the buyer on exchange of contracts, not on completion, unless the contract provides otherwise.

Section 2 formalities

LP(MP)A 1989 s.2 requires a land contract to be in writing, incorporate all agreed terms, and be signed by both parties.

Notice to complete

A notice making time of the essence; failure to complete allows the innocent party to rescind and claim damages or forfeit the deposit.

Local search forms

CON29R (required enquiries), CON29O (optional), and LLC1 (local land charges) are the standard local authority search forms.

Chancel repair liability

Since 13 October 2013, chancel repair liability must be registered as a notice to bind a purchaser for value of registered land.

Environmental search

A search identifying contaminated land risk under Part IIA EPA 1990, usually required by lenders before exchange of contracts.

Title guarantee

Under LP(MP)A 1994, full title guarantee implies the right to convey and an undertaking to do all the covenantor can to give good title.

TR1 form

The prescribed form of transfer for registered land, executed as a deed, stating consideration, title guarantee, and any declarations.

Execution by company

A company executes a deed by two authorised signatories, a director and secretary, or a single director whose signature is witnessed (CA 2006 s.44).

Legal charge

A mortgage of registered land created by registered charge under LRA 2002 s.23; of unregistered land by charge by deed (LPA 1925 s.87).

Power of sale

Arises when mortgage money is due (LPA 1925 s.101) but is exercisable only after default and notice or breach of a statutory condition (s.103).

Equity of redemption

The mortgagor's right to redeem; it cannot be clogged, and any provision postponing or making redemption illusory is void.

Lease registration

Leases over 7 years must be registered (LRA 2002 s.27(2)(b)); shorter leases are overriding interests under Sch 3 para 1.

Section 19 consent

Landlord and Tenant Act 1927 s.19(1): consent to assignment cannot be unreasonably withheld; LTA 1988 s.1 implies reasonableness and time limits.

Section 146 notice

Before forfeiture for breach of covenant other than non-payment of rent, a notice specifying the breach and requiring remedy must be served.

Joint tenancy

Co-ownership with no distinct shares and the right of survivorship; only a joint tenancy can exist at law after 1926.

Severance

Conversion of a joint tenancy into a tenancy in common by written notice (LPA 1925 s.36(2)), alienation, mutual agreement, or course of dealing.

Form A restriction

A restriction on the register protecting beneficial interests by preventing registration of a disposition by a sole proprietor.

SDLT deadline

The SDLT return must be filed and tax paid within 14 days of completion; late filing attracts interest and penalties.

Registration deadline

An application to register a transfer of registered land must be made within 30 days of completion to preserve priority (LRA 2002 s.6).

First registration

Unregistered title must be registered on a triggering event, such as a transfer for value, gift, assent, or first legal mortgage.

Misrepresentation remedies

Rescission and/or damages under Misrepresentation Act 1967 s.2(1) unless the representor proves reasonable grounds for the belief.

Conflict of interest

A solicitor cannot act for both buyer and seller in a conveyancing transaction (SRA Code para 6.2); acting for lender and borrower may also conflict.

Easement characteristics

Re Ellenborough Park: dominant and servient tenement, diversity of ownership, accommodation of the dominant tenement, and capability of grant.