BMGT 612 Lecture Notes - Lecture 1: Land Charges Act 1972, Leasehold Estate, Unregistered Land In English Law
Document Summary
Chapter 3 underlying land law principles rights and interests. Since 1925, only two legal estates: estate in fee simple absolute in possession (the freehold estate); and, a term of years absolute (the leasehold estate). An easement for an interest equivalent to a fee simple absolute in possession or term of years absolute; and. A charge by way of legal mortgage. All other estates, interests and charges in or over land (law of property act (lpa) 1925, s 1). Must comply with the law of property (miscellaneous provisions) act 1989, s 2. Must be in writing which incorporates all terms expressly agreed by parties, and signed by or on behalf of all the parties. Options, equitable mortgages and side letters (variations of contract) issued in connection with sale of land transactions do need to satisfy the requirements of s 2 of the 1989 act. A deed is required to convey or create a legal estate or interest.
