Acing the SQE/Land Law

Core principles of land law ("Land Law")

Nature of Land

distinction between real property and personal property

• Real: An interest in land, which is either corporeal (mines and minerals; buildings; fixtures and fittings) or non‐corporeal (rent or easement)

• Personal: An interest in anything that is not land

how to acquire and transfer legal and equitable estates

Acquiring and transferring legal and equitable estates in English land law involves a complex set of rules and procedures. It's important to note that land law in England is based on a historical framework, and the process may involve various legal instruments, such as contracts, deeds, and registrations. Here's a simplified overview of how one can acquire and transfer legal and equitable estates:

Understanding Legal and Equitable Estates:

In English land law, there are two types of estates: legal and equitable. Legal estates are recognized at law, while equitable estates arise in equity (a branch of law that supplements legal principles). Legal estates are typically acquired through formal legal processes, while equitable estates often involve trusts and equitable interests. Acquiring Legal Estates:

The most common method of acquiring a legal estate is through the purchase of property. This involves the following steps: Offer and Acceptance: The buyer makes an offer, which the seller accepts, leading to a legally binding contract. Exchange of Contracts: The parties exchange signed contracts, which sets out the terms and conditions of the sale. Completion: On the agreed-upon completion date, the buyer pays the purchase price, and the seller transfers legal title to the buyer through a deed. Transferring Legal Estates:

To transfer a legal estate, the property's owner must execute a deed (a formal legal document) that conveys the property to the new owner. The deed must meet certain formal requirements, such as being in writing, signed, and delivered. Acquiring Equitable Estates:

Equitable estates often arise in the context of trusts. A trust is a legal arrangement where one party (the trustee) holds and manages property for the benefit of another (the beneficiary). Equitable interests can also be created through contracts or other equitable arrangements that don't necessarily involve the transfer of legal title. Transferring Equitable Estates:

Equitable estates can be transferred through trust documents or agreements between the parties involved. The trustee may be required to execute a deed or another document to transfer the equitable interest to another party. Land Registration:

In England, most land is registered with the Land Registry. Registration provides a clear record of legal and equitable interests in land. When a legal estate is transferred, it must be registered with the Land Registry to be effective. Stamp Duty Land Tax (SDLT):

When acquiring a legal estate, the buyer is generally required to pay SDLT, a tax on land transactions, to the government. The amount depends on the property's value.

how to acquire and dispose of legal and equitable interests in land

Acquiring and disposing of legal and equitable interests in land in English land law involves specific legal processes and requirements. Here's a step-by-step explanation of how one can acquire and dispose of these interests:

Acquiring Legal Interests:

Purchase of Property:

The most common way to acquire a legal interest in land is by purchasing property. This typically involves the following steps: Offer and Acceptance: A buyer makes an offer to purchase a property, and the seller accepts the offer, creating a legally binding contract. Exchange of Contracts: The parties exchange signed contracts, outlining the terms and conditions of the sale. Completion: On the agreed-upon completion date, the buyer pays the purchase price, and the seller transfers legal title to the buyer through a deed. Transferring Legal Interests:

To dispose of a legal interest in land, the property owner must execute a deed that formally conveys the property to the new owner. The deed must adhere to specific formal requirements, including being in writing, signed, and delivered. Acquiring Equitable Interests:

Creation of Trusts:

Equitable interests often arise within the context of trusts. A trust is a legal arrangement where one party (the trustee) holds and manages property for the benefit of another (the beneficiary). Equitable interests can also be created through contracts or other equitable arrangements that do not necessarily involve the transfer of legal title. Transferring Equitable Interests:

Equitable interests can be transferred through trust documents or agreements between the involved parties. The trustee may be required to execute a deed or another document to transfer the equitable interest to another party. Land Registration:

Land Registry: In England, most land is registered with the Land Registry. Registration provides a clear record of legal and equitable interests in land. When legal interests are transferred, they must be registered with the Land Registry to be legally effective. Stamp Duty Land Tax (SDLT):

SDLT Liability: When acquiring a legal interest in land, the buyer is typically required to pay Stamp Duty Land Tax (SDLT), which is a tax on land transactions. The amount of SDLT owed depends on the property's value.