Enforceability of Third Party Interest in the Registered System - General rule under section 29 LRA 2002 for binding a purchaser. BELOW DISCUSSES THE CATEGORIES MENTIONED IN (A) + (B)
4 important questions on Enforceability of Third Party Interest in the Registered System - General rule under section 29 LRA 2002 for binding a purchaser. BELOW DISCUSSES THE CATEGORIES MENTIONED IN (A) + (B)
Under (s29 of the Land Registration Act 2002), explain what interests bind a purchaser of a registered title on or after 13 October 2003?
(a) 'registrable dispositions' and 'interests affecting a registered estate (IARE)'.
(b) overriding unregistered interests which do not appear on the register.
How is valuable consideration defined in s132 of the LRA 2002 when discussing a purchaser for valuable consideration under s29 LRA 2002?
Under the first category that the third party right may fall, what are the 3 listed examples of registrable disposition in (s27 of the LRA 2002) and does it bind the purchaser?
- Legal mortgage
- legal easements expressly created by deed
- creation/disposition of legal leases with more than 7 years to run (does not matter if the leasehold is within a freehold it's a leasehold within a bigger leasehold, as long as the superior leasehold estate is registered) = here, the legal lease has to be registered under s27 LRA 2002; s4(1)(c) LRA 2002 (a lease for a term more than 7 years triggers compulsory first registration)
These interests will bind the purchaser.
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When do unregistered interests bind the purchaser and what potential problems might the purchaser face because the interest is not entered on the register?
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