When did the Land Registry Act 2002 come into force?
13th October 2003
How is unregistered land registered?
Used in conveyancing, an investigation of the title deeds and land charge searched take place prior to completion
What are two benefits to registered land on state-guaranteed registration of title?
A buyer can see what is being bought, including beneficial rights in neighbouring land.
A buyer can see if a third party holds any rights to the land.
What relevance does 1925 hold for registered land?
Some parts of England and Wales were designated as compulsory registration areas
What relevance does 1990 hold for registered land?
All land England and Wales was designated as falling in compulsory registration area.
If land is in a compulsory registration area does this mean land is automatically registered?
No, it becomes registered in disposition of the land.
What is disposition of the land?
Sale of legal freehold
OR
Creation or sale of legal lease with more than 7 years left to run
In 1998 what is also a trigger for compulsory registration?
Gifts
Inherited property
Court orders
First legal mortgages of property
What act are the 4 1998 triggers of compulsory land governed by?
s6 Land Registration Act 2002
If legal estate is not registered with it 2 months what is the consequence?
It becomes void
What was the year of the LRA prior to 2002?
1925
What act governs the LRA 2002?
Land registration rules 2003
What are 4 advantages of registered land system?
The conveyancing process is made easier.
A complete record of interests can be discovered easily.
An accurate plan for the registered land is available.
Compensation is payable if errors or mistakes are make by the LR as system is state guaranteed.
What is mirror image principle
When the registered reflects a true totality of estates and interest that exist on that piece of land.
What are the 4 kinds of interest in registered land?
Registered estates
Interests which should be protected by entry on the register
Registered charge
Interests which have overriding status
What interest if registered land does not appear on the register?
Interests of overriding status
What is the curtain principle
It keeps certain interests off the registered which the purchaser does not need to know about.
What is the insurance principle?
Insurance for errors of land registration through the state guaranteed system of registration.
What are the 3 registers?
Property register
Proprietorship register
Charges register
What does the property register contain?
Description of property referencing the title plan.
Ordnance survey map
Boundaries of the property
Whether land is FH or LH
Details of any beneficial interests
What is the proprietorship register?
Sets out who owns the land and the class of title over the land.
Any restrictions affecting the proprietors right to deal (co-owners)
What is the charges register?
It contains details of all charges affecting the property or restrictive covenants
What are the 7 classes of title on proprietorship register
Freehold titles
Absolute titles
Qualified titles
Possessory title
Lease hold title
Absolute lease hold
Good lease hold
Possessory lease hold
Qualified leasehold
What is qualified title
Similar to absolute possession except property is held subject to a defect or right in the register