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Overreaching
Overreaching is a concept in English land law and the Law of Property Act 1925. It refers to a situation where a person's equitable property right is dissolved, detached from a piece of property, and reattached to money that is given by a third party for the property. This happens, according to ''City of London Building Society v Flegg'' in any case where property is bought or mortgaged in a contract with two or more title holders. Overreaching can only exist where a trust is in existence and a property is sold. It occurs when the purchaser paid to at least two trustees in monies. The occupiers of a property in such a situation cannot then claim that their occupation of the property is an overriding interest, as the joint trustees have brought that occupation to a close through the sale of the property. By purchasing the property from trustees, under Section 2 of the Law of Property Act 1925, the occupation rights of any other party are automatically extinguished. If such a party ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Of London Building Society V Flegg
is an English land law case decided in the House of Lords on the relationship between potential overriding interests and the concept of overreaching. The case was controversial because it construed the statutory framework so that interests which might have been overriding were denied that status because they could be overreached in appropriate circumstances. In the following years, it has been questioned whether the overreaching rules, as interpreted by ''Flegg'', are compatible with the qualified rights to peaceful enjoyment of possessions and/or the right to a family life and home guaranteed in the Convention on Human Rights. Currently it appears that they are. Facts In 1977, Mr and Mrs Flegg sold their home of 28 years and used the £18,000 they realised to help buy a new home, Bleak House. Their daughter and her husband, Mrs and Mr Maxwell-Brown also chose the house; they also put in the balance to buy (£16,000) by taking out a mortgage loan (with an earlier lender) whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Birmingham Midshires V Sabherwal
''Birmingham Midshires Mortgage Services Limited v Sabherwal'' 00080 P&CR 256 is an English property law case, concerning the principles of equitable interests, overriding interests, and overreaching interests. It is one of many cases where the commercial rights mortgage lenders need to do business clash with the rights of innocent parties facing the loss of their home. Facts Mrs Sabherwal was facing eviction from her home, bought in the names of her two sons in 1987 with family assets and a mortgage. It was occupied by Mrs Sabherwal, her sons, and their wives. In 1990 the sons took out a loan, secured on the house, with the mortgage company; this loan replaced an existing mortgage but was primarily taken in order to finance family business interests. In 1993 the sons defaulted on the repayments. Possession proceedings soon began. Mrs Sabherwal claimed to have overriding interests; the mortgage company claimed to have overreached them. The mortgage company won the original ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Land Law
English land law is the law of real property in England and Wales. Because of its heavy historical and social significance, land is usually seen as the most important part of English property law. Ownership of land has its roots in the feudal system established by William the Conqueror after 1066, and with a gradually diminishing aristocratic presence, now sees a large number of owners playing in an active market for real estate. The modern law's sources derive from the old courts of common law and equity, along with legislation such as the Law of Property Act 1925, the Settled Land Act 1925, the Land Charges Act 1972, the Trusts of Land and Appointment of Trustees Act 1996 and the Land Registration Act 2002. At its core, English land law involves the acquisition, content and priority of rights and obligations among people with interests in land. Having a property right in land, as opposed to a contractual or some other personal right, matters because it creates privileges over ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925c 20 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Innovations included the default c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the " beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". A ''testamentary trust'' is created by a will and arises after the death of the settlor. An ''inter vivos trust'' is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; an irrevocable trust can be "broken" (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overriding Interest
Overriding interest is an English land law concept. The general rule in registered conveyancing is that all interests and rights over a piece of land have to be written on the register entry for that land. Otherwise, when anyone buys that piece of land, the interests will not apply to the purchaser, and the rights will be lost. Overriding interests are the exception to this general rule. Overriding interests need not be registered to bind any new owner. Overview The House of Commons, House of Lords and tasked Royal Commission preparing the Law of Property Acts (1925) agreed that for many classes of interest it would be unreasonable to expect certain interests to be registered, in which legislation they were termed overriding interests. Their list was reformed and simplified under legislation of 2002 in staggered reforms between that year and 2013. Such interests principally include: *Tenancies/leases of less than seven years *Rights of people in actual occupation, perhaps unawa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equitable Conversion
Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date. The seller retains legal title of the property prior to the date of conveyance, but this land interest is considered personal property (a right to the payment of money, rather than a right to the property). The risk of loss is then transferred to the buyer{{spaced ndashif a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and should be avoided by parties by stipulating in the contract who will bear the loss in such occurrences. The above rule varies by jurisdiction, but is the general rule. Effect of death ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martin Dixon (academic Lawyer)
Martin John Dixon is a British academic lawyer. He is Professor of the Law of Real Property at the University of Cambridge and a Fellow of Queens' College, Cambridge. He is Director of the Cambridge Centre for Property Law and an Honorary Bencher of Lincoln's Inn. He was awarded the University of Cambridge Pilkington Prize for excellence in teaching in 2004. He was previously a Fellow of Robinson College, Cambridge and a Legal Officer for the UNRWA based in Vienna and Gaza City. He attended Cynffig Comprehensive School and Keble College, Oxford, before teaching at Trinity College, Oxford prior to moving to Robinson College, Cambridge. He moved to Queens' College in 2000. He also teaches Land Law for the GDL at City University, London and for the London University LLB at Hong Kong University. Published works He is the author (with HH Judge Stuart Bridge and Judge Elizabeth Cooke) of ''Meggary & Wade: The Law of Real Property'' (9th ed 2019), an editor of ''Ruoff and Roper: ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overriding Interest
Overriding interest is an English land law concept. The general rule in registered conveyancing is that all interests and rights over a piece of land have to be written on the register entry for that land. Otherwise, when anyone buys that piece of land, the interests will not apply to the purchaser, and the rights will be lost. Overriding interests are the exception to this general rule. Overriding interests need not be registered to bind any new owner. Overview The House of Commons, House of Lords and tasked Royal Commission preparing the Law of Property Acts (1925) agreed that for many classes of interest it would be unreasonable to expect certain interests to be registered, in which legislation they were termed overriding interests. Their list was reformed and simplified under legislation of 2002 in staggered reforms between that year and 2013. Such interests principally include: *Tenancies/leases of less than seven years *Rights of people in actual occupation, perhaps unawa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
