Method of legal transferring of land went through significant changes after the land registration act 1925 which came in to effect since 1 January 1926. According s1 of the act only two ways are possible in transferring ownership. The first is commonly known as freehold ( legally known as fee simple absolute) and the second is leasehold ( legally seen as ownership over a period of time). This change made it impossible to make other forms of transferring ownership of land except transfer behind a trust. All other forms like life estate, fee tail etc...becomes illegal.
However it made possible to create interests like easement, rent charge, legal mortgage rights of entry etc..
s1 of the property legislation from its introduction has reduced the number of estate in land which are capable of being conveyed or created at law. By introducing these restrictions conveyance process became simpler.
In this tutorial, I will be concentrating on land charges act 1925 and land registration act 1925 and their influence.
The third form which is ownership created behind a trust had the opportunity of transferring property by method of over reaching. This method not only protects the prospective purchaser but also beneficiary having the having a trustee on behalf of the settler. This helped to transfer a property after a period of time due to social requirements in the form of will etc... it is better to note here in legal terms the person who makes the will is known as settler if he/she is alive otherwise testator.
The land registration act aimed radically to change the way in which persons prove that they own land by establishing a register from which information about ownership of the land and many proprietary interests that affect it can be obtained. All unregistered tittles will at...