Land Registration
Section 4 stipulates that registration of an estate in land is compulsory when one of the following events occurs:
- Freehold estate is transferred, whether under a sale, gift or other circumstances;
- Legal lease for more than seven years is granted;
- Legal lease with more than seven years to run is transferred; or
- Grant of a first legal charge (mortgage).
Failure to register when required, means that the purchaser or transferee gains only an equitable title to the land and the seller or transferor remains as the registered proprietor. A person with an equitable title, i.e. who has failed to register, cannot take advantage of the priority rules found in sections 29 and 30 of the Act and may be vulnerable if the (still) registered proprietor attempts another dealing with the land.
Read more about this topic: Land Registration Act 2002
Famous quotes containing the word land:
“They commonly celebrate those beaches only which have a hotel on them, not those which have a humane house alone. But I wished to see that seashore where man’s works are wrecks; to put up at the true Atlantic House, where the ocean is land-lord as well as sea-lord, and comes ashore without a wharf for the landing; where the crumbling land is the only invalid, or at best is but dry land, and that is all you can say of it.”
—Henry David Thoreau (1817–1862)