land law unit 1 flashcards

what year was law of property act?

1925

freehold

owning a property and the land it sits on indefinitely

outright owner responsible for all the costs and decisions relating to the property

commonhold

system of property ownership in England and Wales where each unit-holder owns the freehold of their home, and a commonhold association owns and manages the common areas and services

leasehold

exclusive possession over a fixed period of time

leased from a landlord who retains ownership of the underlying land or building

licenses in property land

license grants permission to use another property for a specific purpose

personal not proprietary and they don’t create a legal interest in the land

land ownership

extends above and below ground

legal estate

legal estate" refers to the ownership of land, specifically a freehold estate (fee simple absolute in possession) or a leasehold estate (term of years absolute), as defined by the Law of Property Act 1925. 

crown in the law of property act 1925

The Act addresses the Crown's rights and powers in relation to property, including provisions related to land held by the Crown, the Crown's ability to acquire and dispose of land, and the Crown's role in resolving disputes over property rights

right of ownership and possession by virtue of the crown

conveyance

transfer of property from one owner to another

examples of things that are covered by the law of property act 1925

Freehold, leasehold, covenant, easement crown, legal estate

covenant

is a legally binding agreement that dictates what a homeowner can or cannot do with their property

designed to protect the value character or functionality of the land

often written into property deeds

what are covenants designed to do

designed to protect the value character or functionality of the land

where are covenants often found

written in property deeds

positive covenants

making someone do something to their land

example of a positive covenant

painting a fence every 5 years

restrictive covenants

restricting what can be done to land or property

example of a restrictive covenant

cannot use a residential house as a buisness