ECON-1006EL Study Guide - Quiz Guide: Consideration, Land Registration Act 2002, Abbey National
27 Oct 2020
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The issue of priority: deals with when you are selling your house do your interests bind the new owner s, transferee bound by all existing interests except those under s. 29 lra. Overriding interests do not go on the register but are still binding: checking the priority of a right. Check if the right had been protected by a notice before the purchaser becomes the new registered owner. If not then check if it qualified as overriding. Overriding interests: schedule 3 lra 2002, not on the register but they still bind. A legal lease granted for 7 years or less. Except a legal lease which doesn"t take effect in possession until at least 3 months after grant. Must be legal i. e. done by deed unless a s. 54 exception applies. An interest of a person in actual occupation of the land. Must be an existing right and actual occupation.
