Nobody downloaded yet

Land law - Essay Example

Comments (0) Cite this document
Summary
Land Law Student Number: Institution: Course: Tutor: Date: Land Law Outline the devolution of the legal estate and equitable interests in the property (70 marks) Property that is owned by two or more individuals, jointly and at the same time is referred to as concurrent estate…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98% of users find it useful
Land law
Read TextPreview

Extract of sample "Land law"

Download file to see previous pages Different types of ownership stipulate different rights and liabilities of co-tenants. The type of ownership determines guidelines on the property in terms of attempts to sell it, and methods by which the property can be transferred. In this case, each owner is referred to as a tenant in common. The freehold property that the four pioneer owners (Allan, Ben, Chris and David) bought by contributing different amounts makes them tenants in common (TIC). Unless otherwise stated, most courts assume that a tenancy in common exists whenever several persons take concurrent possession of a single piece of land. When land is granted, transferred, conveyed, assigned or bequeathed to two or more persons, other than as executors, administrators or trustees in either fee simple or any lesser estate, legal or equitable, and the tenancy is not specified in the document creating the estate, the co-owners hold as tenants in common1. Each member has an interest in a particular part of the parcel and the right to access the parcel as a whole. Each co-owner is allowed to choose who will inherit his or her ownership interest upon death. In cases where no will exists, then the share of the deceased would go to the persons entitled under the rules of intestacy. Each co-owner is liable to the others if they cause any deterioration in the value of the property. Tenancy in common only has the unity of possession and has no right of survivorship. Unity of possession is achieved when each co-owner is entitled to possession of the whole property. In situations where the conveyance in favor of the co-owners includes how the co-owners should hold the equitable interest in the property, this agreement is conclusive2. Each tenant in common enjoys autonomy in dealing with his interest, including the decision to dispose of the interest by will. Each tenant in common holds undivided proportionate interests. Tenants in common cannot hold unity of interest because their interests are not proportionate. Each tenant is awarded interest according to his contribution. Initially, the shares of Allan, Ben, Chris and David are determined by how much each owner contributed to the purchase of the property. After Chris retired and sold his shares to Fiona, Fiona owned Chris’ shares and hers as well. The sale of Chris’ shares to Fiona does not alter the arrangement between the remaining owners. However, a transfer must be used and fees should be charged on the value of the proportionate interest being transferred. On the other hand, Elsa took over David’s shares after David died. After Elsa died, Gerry and Harry became co-owners, each entitled to the share Elsa assigned him. It is permissible for Harry and Garry to hold Elsa’s interest in joint custody. In that case, Harry and Garry can be joint tenants so that they are both tenants in common with the other co-tenants. As joint tenants, they enjoy the right of survivorship which presumes that when one dies, the other takes over ownership of the entire parcel which they shared before the death. This minimizes delays when handing over property. Incase Garry, having inherited property does not desire to claim any ownership interest, the interest to the property can be transferred to the other tenants in common. As joint tenants, Harry and Garry have four unities which include: interest, time, title and possession. Joint tenancy mandates owners to have the same interest, developed under the same conveyance, starting at the same time and held under the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Land law Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.org/law/1397599-land-law
(Land Law Essay Example | Topics and Well Written Essays - 1500 Words)
https://studentshare.org/law/1397599-land-law.
“Land Law Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/law/1397599-land-law.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Land law

Land law

...? Land law Introduction A tenancy is an agreement that outlines the rights and responsibilities of both the tenant and landlord1. A tenancy agreement in land law is formed between the owner of the land, the landlord and the tenant. A tenancy agreement outlines the length of tenancy agreement, duties of both the landlord and tenant and rent payable. Unlike license agreement, tenancy agreement grants the tenant exclusive possession of the property. A license agreement in land law is the authority that is grated by the owner of the land to occupy the land. A tenancy agreement vests an...
6 Pages(1500 words)Essay

Land Law

... 1995, which means that leasehold contracts entered into before it, are governed by common laws and other statutes in effect at that time. There are significant amendments introduced by the law, among which, is the release of a lessee from the contract once the contract is assigned to another. An author calls this a “mortal blow to the principle of privity contract” in leasehold contracts.1 The problems discussed in the preceding pages are based on a leasehold contract entered prior to 1996 act but involves a freehold purchase after 1996. A couple of problems involved easements, which calls for the application of the relatively new Land Registration Act 2002. The last one tackles adverse possession, also governed by LRA 2002... . Privity of...
9 Pages(2250 words)Essay

Land Law

...?Land Law Essay Introduction In order to determine Noddy’s remedies against Toy Town Motors Ltd. and Bigears it is necessary to first define the typeof interest that the arrangement with Bigear created. In other words, the main question is whether or not permission or the licence to use Redcap created a personal interest or a proprietary interest in the land. If permission to use Redcap is personal, Noddy’s remedies will exist under the law of contract. However, if the permission/licence to use Redcap created a proprietary interest in the land, Noddy’s remedies are founded on principles applicable land law. These...
10 Pages(2500 words)Coursework

Land Law

...Land Law-Assignment 2 Introduction A mortgage is a registered security on possession that permits the mortgagee or lender to take and put up for sale the property if the mortgagor fails to repay the money. It can be placed on goods or real estate, if money is borrowed to buy it. Lenders are required to send a reminder notice or letter of demand if payments are defaulted1. If the payment default is not corrected as expected in the demand letter, the lender should send a default notice, making it clear how he will remedy the default to allow the borrower a maximum period of 30 days as per the date of the note to do so. When a mortgager of residential property fails to repay his mortgage, he will find it...
5 Pages(1250 words)Essay

LAND LAW

...? Land Law Case Study Scenario Terrance/Theresa Terri Staines -and- Leemond/Leah Lee Vowles submission Introduction Land law is concerned with the bundle of rights persons may exclusively have in time over a given situation. It defines the range of functions persons may exercise in given situations at a given time, the so called functional theory of property. The idea of property in land is a consequence of social evolution regardless of the origin of the property and the legal system recognizes a category of rights relating to a property. Property law declares what society regards as property, it creates or constitutes property rights,...
4 Pages(1000 words)Coursework

Land Law

...?Running Head: LAND LAW Land Law of the United Kingdom of the of the Land Law of the United Kingdom Land law of the United Kingdom can be explained as the law of real property in England and is a significant aspect of society and its people. Land law can be further elaborated under the context of the statement, “of course it is necessary for conveyancing to be made as easy as possible, and for purchasers to be protected. However, this should not be at the expenses of beneficial interests”. For explaining this statement in relation to land...
14 Pages(3500 words)Essay

Land law

...? Land Law and Land Law Facts Mishal and Rick bought a house, Number 46, on a registered freehold title land from Anjum in July for ?350,000. Mishal and Rick then registered as proprietors shortly after completion. Number 46 is a large, Victorian, semi-detached house with a self-contained basement flat. Rick’s mother is planning to move into the house next year. Last week Mishal and Rick came home from work only to find a man called Ned in the basement flat. He explained that he has been away in Paris for six months work. He also explained that in 1995 he bought a twenty-year lease of the flat from the then owner. The owner later sold the house to Anjum...
8 Pages(2000 words)Essay

Land Law

...Land law Land law Introduction According to Kevin gray, ‘immunity from pre-existing equitable rights guaranteed only in the case of the purchaser of a legal estate whose conscience was wholly unaffected, such as purchaser was sometimes known simply as Equity’s Darling1. The doctrine of notice has undergone transformation with the enactment of various laws such as law of Property Act 1925 that clarified the status of bona fide purchaser and Law Charges Act 1972 that outlined the charges to land that must be registered2. According to unregistered title to land before 1925, the legal...
12 Pages(3000 words)Essay

Land Law

...LAND LAW: A CASE STUDY 28th November, Introduction In this paper, I have referred to the land laws to provide advice to a client, Joan, who is interested in buying a townhouse from its current owner, Peter. The Land Registration Act (2002) governs how land is registered in the UK, the rights of individual parties when transacting with a piece of land, and encourages voluntary registration of land. Background Peter, a resident of Southpool owns a townhouse. However, he wishes to move into the countryside and decides to give up the townhouse for renting. He thereby converts the houses into flats, and rents...
7 Pages(1750 words)Essay

Land Law

...lands belong to Crown under the English jurisprudence of land laws. However, both personal and proprietary rights to land exist and an individual may not technically own land but a series of rights related to the use of the land1. From a jurisprudential standpoint, the distinction between personal rights and proprietary rights to use land is critically important today as it was in the past. This is particularly because land leases remain personal property in the contemporary English property laws. As such a clear distinction between personal rights and proprietary rights may be required in solving a wide...
12 Pages(3000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Land law for FREE!

Contact Us