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This is the major statutory definition of the ownership, transfer and exploitation of Real property =

Contents 1 s.1 2 s2(2) 3 s.34(2) 4 s.52 5 s.53 6 s.54 7 s.53 8 s.56(1) 9 s.62 10 s.78 11 s.79 12 s.85 13 s.86 14 s.87(1) 15 s.88 16 s.89 17 s.97 18 s.101

s.1

Defines the legal estates that can be created.

See: Freehold, Leasehold

s2(2)

States that Overreaching takes place when the purchase price of a legal estate is paid to two trustees or a trust corporation

s.34(2)

Provides that an attempt to convey land in undivided share creates a JointTenancy in law and atenancy in common in equity. See CoOwnershipOfLand.

s.52

With a very few exceptions, a legal interest in land can only be created by Deed or Assent. One exception is a 'Lease not required to be in writing'. By implication, the effect is that a lease of less than three years made with no formalities at all is a legal, not equitable, lease.

s.53

(1) Writing is required to (a) dispose of any interest in land; (b) declare a trust over land; (c) dispose of any equitable interest (in anything, not just land). (2) This does not affect aresulting trust or ConstructiveTrust. See also TrustFormalities.

s.54

s.53

does not apply to leases of shorter than three years: these may be created without formalities.

s.56(1)

Parties identifiable in conveyance may enforce terms of the conveyance even if they are not specifically named. This has been held to mean that covenants can be enforced by people who are not parties to the covenant -- see freehold covenant for discussion

s.62

Stipulates that when land is conveyed, the conveyance shall be implied to include any buildings or fixtures on the land, and any rights necessary for enjoyment of the land. s.(3) has been interpreted by the courts as being capable of converting a Licence into an Easement: see platt v crouch (2003).

s.78

The benefit of any covenant relating to land may be enforced by successor in title to the covenantee. See freehold covenant for discussion

s.79

A person who accepts the burden of a covenant is deemed to do so on behalf of his successors in title as well as himself, unless there is clear intention to the contrary. See freehold covenant, LeaseholdCovenant for discussion

s.85

A Mortgage can only be created over a Freehold estate by either a Demise (lease) or by a legal charge. An attempt to create a mortgage by any other means takes effect as a demise.

s.86

Ditto a Leasehold estate.

s.87(1)

A mortgage by legal charge shall give the Mortgagee the same rights as a demise.

s.88

(1) When a Mortgagee of a Freehold estate excercises his power of sale (see mortgagees power of sale), the purchaser takes the estate free from the mortgage, and any subsequent mortgages. (2) When such a mortgagee is granted aforeclosure absolute, he obtains the estate in fee simple, free of the mortgage and any subsequent mortgages.

s.89

Ditto, in effect, a mortgagee of a Leasehold estate.

s.97

Apuisne mortgage shall have its priority assessed by the date on which it was registered as a land charge.

s.101

A Mortgagee has a power to sell the mortgaged property (see Mortgagees power of sale) or to appoint a receiver (see Mortgagees power to appoint receiver). There are also some other rights that are less commonly encountered (e.g., a right to cut and sell timber from the land).