Unit 3: Topic 5 Flashcards

(31 cards)

1
Q

What is the purpose of land registration?

A

Maintain a continuous record of land ownership.

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2
Q

What do easements & covenants do?

A

Alert potential buyers and lenders to certain rights and obligations. They are listed in the title deed.

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3
Q

What do easements & covenants run with?

A

Run with the land which means they are attached indefinitely.

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4
Q

What is an Easement?

A

A right held by the landowner over the land of another.

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5
Q

Why can an Easement be beneficial and detrimental?

A

Beneficial = A right you have over someone else’s property.

Detrimental = Right held over your property.

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6
Q

Who can remove an Easement?

A

The court.

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7
Q

What is meant by easement by necessity?

A

Encirclement - Sells part of the land but owns the surroundings.

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8
Q

What is a Covenant?

A

A promise or obligation.

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9
Q

What is a positive covenant?

A

State what an owner must do (do not run with the land)

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10
Q

What is a restrictive covenant?

A

What an owner must not do (run with the land)

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11
Q

What is the first category that HM Land Registry holds information?

A
  1. Property Register
    • title number, written details, plan of the property
    • beneficial easements
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12
Q

What is the second category that HM Land Registry holds information?

A
  1. Proprietorship Register
    • Name & address of the estate & owner
    • Class of title
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13
Q

What is absolute class of title?

A
  • Clear title established
  • Freehold or leasehold
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14
Q

What is good leasehold?

A
  • Leasehold is good but the freeholders right is not certain
  • Can apply with leases of more than 7 years
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15
Q

What is the third category that HM Land Registry holds information?

A
  1. Possery
    • Where some or all of the deeds are lost
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16
Q

In relation to Possery, why is something converted to absolute squatters rights?

A

If someone’s has occupied the land for 10 years without anyone proving title to that land then it can be converted.

17
Q

What is meant by qualified title?

A

Due to defects in the title neither absolute nor good leaseholder can be confirmed.

18
Q

When should transfers of registered land be registered?

A

Within 30 days of completion.

19
Q

What is held in the Charges Register?

A
  • Details all mortgages over the property
  • Protects non-owning spouse
  • Includes adverse easements and restrictive covenants
20
Q

What is unregistered land?

A

Doesn’t exist on the land registry.

21
Q

What is meant by ‘good route of title’?

A

Shows the legal owner of the property over the years.

22
Q

What is shown in the land charges registry?

A

Shows certain rights for puisne mortgages which is a second charge on unregistered land.

23
Q

What is chancel repair liability?

A

Goes back 100’s years where a county might have to contribute costs to the repairs/maintenance of the local church.

24
Q

What happens when chancel repair liability is registered?

A

Current and subsequent purchasers are subject to the liability.

25
What must be stated in regards to Title Guarantee?
- Selling with full title - Limited title guarantee - No guarantee
26
What is meant by selling with full title?
Means they are promising to sell free from any charges and encumbrances.
27
What is a Matrimonial Interest?
The other people living in the property. They must sign a consent to mortgage form with the title deed which waives the right of residence.
28
What is indemnity insurance?
Protects against defaults in title.
29
What are the lender rights under the mortgage deed?
- Whole debt is due on default - Ensure there's insurance - Make further advances - Transfer the mortgage - Let the property if repossessed - Make sure charges are specified
30
What are the borrowers promises?
- Make required payments - Don't let out without consent - Keep property in good repair - Comply with conditions of title - Comply with lease - Comply with law - Maintain property insurance
31
What could be described as an easement?
Right of way.