FE-1 Law of Property cheat sheet

Contract for sale of land must be evidenced in writing and signed by the party to be charged; the memorandum must contain all material terms (parties, property, price, and any agreed conditions).

Rule: a purchaser's equitable interest arises on exchange of contracts (or on a specifically enforceable contract), not on completion; the vendor then holds the legal estate on a constructive trust for the buyer.

Section 2 formalities: a contract for the disposition of an interest in land is void if not made in writing, incorporating all terms in one document, signed by or on behalf of each party (electronic signature generally sufficient).

Doctrine of anticipation: where a binding contract exists, the vendor retains the legal fee simple but holds the beneficial interest for the purchaser; risk of damage generally passes on exchange unless the contract provides otherwise.

Completion mechanics: seller delivers transfer deed and title; buyer pays balance; deed must be executed as a deed (signed, attested, delivered) to transfer a legal estate.

Priority: registration of a transfer or a notice in the land register determines priority; unregistered interests may be overreached by payment to two trustees.

Standard conveyancing conditions typically make the sale subject to title investigation, local searches, and enquiries; time is not of the essence unless expressly stipulated or made so by notice.

Misrepresentation and caveat emptor: the seller must disclose latent defects in title but not physical defects; a false statement inducing the contract gives rescission and/or damages.

Undertakings and deposit: the deposit (commonly 10%) is held by the seller's solicitor as stakeholder; on default the seller may forfeit the deposit or sue for specific performance or damages.

Estates: the only legal estates are the fee simple absolute in possession and the term of years absolute; all other estates take effect in equity.

Legal interests: easements, rentcharges, charges by way of legal mortgage, and rights of entry are legal if created by deed; equitable interests arise from contract, trust, or informal creation.

Co-ownership: joint tenancy has no distinct shares and operates by survivorship; tenancy in common has fixed undivided shares with no survivorship.

Severance of a joint tenancy occurs by written notice, alienation, mutual agreement, or course of dealing (Williams v Hensman principles); severance converts to tenancy in common.

Registered land: a registrable disposition (transfer, lease over 7 years, charge, express easement) must be completed by registration to confer legal effect; a notice protects third-party interests.

Overreaching: a purchaser who pays capital money to at least two trustees or a trust corporation takes free of beneficial interests behind a trust.

Adverse possession: for registered land, the limitation period is 10 years, after which the squatter may apply for registration; the paper owner receives notice and may object.

Easements require a dominant and servient tenement, diversity of ownership/occupation, benefit to the dominant land, and the right must lie in grant (capable grantor and grantee, sufficiently definite).

Covenants: the burden of a restrictive covenant can run in equity with notice; the benefit runs with the dominant land if annexed, assigned, or under a scheme of development.

Leases over 7 years must be registered to confer legal title; leases of 7 years or less are legal without registration but may be protected by actual occupation.

A lease requires certainty of term, exclusive possession, and rent (or other consideration); exclusive possession distinguishes a lease from a licence.

Business tenancies: security of tenure under the statutory regime; the tenant may apply for a new lease; the landlord may oppose on specified grounds (e.g. redevelopment, own occupation).

Residential assured shorthold tenancy: fixed term with statutory periodic continuation; possession requires a valid section 21 notice or a section 8 ground.

Rent deposit protection: deposits for assured shorthold tenancies must be protected in a government-approved scheme within 14 days and prescribed information given; failure bars section 21 possession.

Repairing obligations: the landlord must keep structure, exterior, and installations for water, gas, electricity, and heating in repair; a statutory implied covenant overrides contrary terms in dwellings.

Forfeiture: a landlord may forfeit a lease for breach of covenant by serving a section 146 notice (except non-payment of rent) and seeking possession; relief from forfeiture is available.

Assignment and subletting: unless prohibited, a tenant may assign; qualified covenants require landlord consent, which cannot be unreasonably withheld.

A will must be in writing, signed by the testator (or by someone in his presence and at his direction), and attested by two witnesses present at the same time.

Intention: the testator must have testamentary capacity (sound mind, memory, and understanding) and knowledge and approval of the contents; undue influence or fraud invalidates.

Revocation: a will is revoked by a later will, by marriage or civil partnership (unless made in contemplation), or by physical destruction with intent to revoke.

Intestacy: the estate passes under statutory rules; a surviving spouse or civil partner takes the personal chattels and a statutory legacy plus a share, with children taking the residue on statutory trusts.

Probate: the personal representatives derive title from the grant of probate (executors) or letters of administration (administrators); the estate vests in them on death.

Doctrine of lapse: a gift to a beneficiary who predeceases the testator fails unless saved by a substitutionary provision or the anti-lapse rule for the testator's issue.

Ademption: a specific gift fails if the subject matter no longer belongs to the testator at death; abatement applies where the estate is insufficient to pay all gifts.

Claims against the estate: dependants and certain others may apply for reasonable financial provision from the estate; the court considers the applicant's needs and the beneficiaries' circumstances.