PROPERTY LAW

PROPERTY LAW



PROPERTY LAW

Question 1

Referring to the scenario Megabux Ltd should know that Land may be either unregistered or registered in the Land Registration Act 1925. The penalties of registration or non-registration do not comprise any large implication for the convincing process. The factual difference lies in enquiry of title and there are separate laws for third parties. It is crucial to enquire a house in alignment to protected good name upon conveyance as methodical investigation will determine the needed status of the vendor as proprietor of the property, who can then overtake on an absolute title.

The investigation will also facilitate awareness of the documents that require be collecting and presenting to the Registrar in order to secure legal estate after the completion process. Charges over land also have to be resolved with the lenders who should have consented to the sale and be redeemed from the proceeds. An investigation by a solicitor will disclose all the charges that are held over a property. A claim to a mixed fund is therefore also substantively different from a claim for the freehold of land which is a proprietary claim relating undoubtedly to identifiable property (the land itself). The certainty of that claim, as a claim relating only to that particular land, can be compared with the comparative vagueness of a claim to a part share of a mixed bank account. Typically, the legal analysis of money held in an electronic bank account is such that the property involved is commonly accepted as being susceptible to treatment by the rules for tangible property despite the fact that it is in truth only evidence of a debt owed by a bank to its customer. A bank account is merely a chose in action: a contractual recognition by the bank that the accountholder has deposited money if the property is registered, this would have occurred either at the time of completion of the mortgage agreement in 2002 at the latest. This therefore means that the title is registered in the allegations register.

(a) The importance of Investigation

The reason of registration, as conceived in the 1925 Act, was the simplification of the investigation of name to legal land parcels. This therefore means that name to land is assured by virtue of the look of the proprietor's title in the list, which is mentioned to as, statutory vesting, and therefore aids in conceiving a glossy conveyance. There are three different lists and each has a separate reason.

The first is the Property list, which yields a description of the property. The second is the Proprietorship Register, which stipulates the name and address of the proprietor of the land, as well as the class of title which for freehold is either absolute or posession. Thirdly, there is the Charges list which identifies all charges such as covenants and mortgages.

(b) Problems for Bill

The details propose that there has really been no investigation of title as it is solidly asserted that:

Bill was so impressed with the ...