Beneficial joint tenants and the protection of purchasers: an unsolved problem
Cooke, E.
Beneficial joint tenants and the protection of purchasers: an unsolved problem - 2004 - Conveyancer and Property Lawyer 68 January/February 2004, 41-48(8) .
Discusses the severance of beneficial joint tenancies. The Law of Property (Joint Tenants) Act 1964 prescribes test criteria which, if present, ensure that the purchaser, with or without notice, cannot be bound by a third party's interest even if one of the joint parties severed. The third party's right is effectively overreached by the conveyance to the purchaser. The same problem exists in registered land, which the 1964 Act does not apply to. Examines the above difficulty in respect of purchasers of registered land from the survivor of beneficial joint tenants. The only thing that can protect a purchaser completely in registered land is the appointment of a second trustee of the legal estate to ensure that any unexpected beneficial interests are safely overreached. Proposes a solution involving an amendment to the Land Registration Act 2002, whereby the surviving joint tenant vendor will be deemed to be solely and beneficially entitled.
REGISTERED LAND
PURCHASERS
LAW OF PROPERTY (JOINT TENANTS) ACT 1964
BENEFICIAL INTEREST
BENEFICIAL JOINT TENANTS
JOINT TENANCIES
LAND REGISTRATION ACT 1925 PARA 70(1)(G)
LAW OF PROPERTY ACT 1925 S2
LAW OF PROPERTY (JOINT TENANTS) ACT 1964 S3
SALE OF LAND
KINGSNORTH FINANCE CO LTD V TIZARD
LAND REGISTRATION ACT 2002
WILLIAMS AND GLYNS BANK LTD V BOLAND
Beneficial joint tenants and the protection of purchasers: an unsolved problem - 2004 - Conveyancer and Property Lawyer 68 January/February 2004, 41-48(8) .
Discusses the severance of beneficial joint tenancies. The Law of Property (Joint Tenants) Act 1964 prescribes test criteria which, if present, ensure that the purchaser, with or without notice, cannot be bound by a third party's interest even if one of the joint parties severed. The third party's right is effectively overreached by the conveyance to the purchaser. The same problem exists in registered land, which the 1964 Act does not apply to. Examines the above difficulty in respect of purchasers of registered land from the survivor of beneficial joint tenants. The only thing that can protect a purchaser completely in registered land is the appointment of a second trustee of the legal estate to ensure that any unexpected beneficial interests are safely overreached. Proposes a solution involving an amendment to the Land Registration Act 2002, whereby the surviving joint tenant vendor will be deemed to be solely and beneficially entitled.
REGISTERED LAND
PURCHASERS
LAW OF PROPERTY (JOINT TENANTS) ACT 1964
BENEFICIAL INTEREST
BENEFICIAL JOINT TENANTS
JOINT TENANCIES
LAND REGISTRATION ACT 1925 PARA 70(1)(G)
LAW OF PROPERTY ACT 1925 S2
LAW OF PROPERTY (JOINT TENANTS) ACT 1964 S3
SALE OF LAND
KINGSNORTH FINANCE CO LTD V TIZARD
LAND REGISTRATION ACT 2002
WILLIAMS AND GLYNS BANK LTD V BOLAND