Land Law

What are the two types of legal interests?

1. Freehold - interests of land of indefinite duration

2. Leasehold - interests in land for a fixed period

How are legal interests created?

Legal interests must be created by deed and require registration under the Land Registration Act 2002 to be fully effective.

How are equitable interests created?

Through the land registration system by means of notices or restrictions entered on the register. Equitable interests are generally enforceable against all persons except a bona fide purchaser of a legal estate for value without notice.

Give an overview of registered land and the benefits

• Ownership and most interests are recorded at the Land registry 

• Interests needs to be registered to bind purchasers 

• Certain overriding interests bind purchasers even if they are not registered, such as rights of persons in actual occupation

Benefits: 

• Security of title - the state guarantees the registered title, reducing the risk of ownership disputes 

• Transparency - potential buyers can access info about the property, leading to smoother transactions

• Efficiency - streamlines the conveyancing process by providing clear records.