Rules of Equity Torrens System..pdf - UDL3612 Land Law I Trimester 1 2019\/2020 Topic 1 Introduction Tutorials 01 02(Weeks 1 3 1 Distinguish between the

Rules of Equity Torrens System..pdf - UDL3612 Land Law I...

This preview shows page 1 - 3 out of 5 pages.

UDL3612 Land Law I Trimester 1, 2019/2020 Topic 1 Introduction Tutorials 01 & 02 (Weeks 1 & 3) 1. Distinguish between the terms “registration of title” and “title by registration”. Not sure. 2. By reference to the relevant authorities and illustrations, explain the following concepts: (a) “ownership” and “possession”; Ownership is the state or fact of exclusive possession or control of property. It is embodied in an ownership right also referred to as title. Possession is having some degree of control over something else. A person may be in possession of a property but may not possess ownership of the land. Thus, possession does not always imply ownership, but is something lesser than ownership. (b) “title” and “interest” Title here refers to land title which is an official certificate/document issued by the relevant authorities, and is evidence of ownership. It is registered through a statutory process called the Torrens title system . Interest is any right, claim, or privilege that an individual has toward real or personal property. It is something less than proprietorship or ownership, and has limited rights towards the land. Example: tenant, leasee, chargee, etc (c) “legal interest” and “equitable interest”; Legal Interest Interest which have been validly and formally created in accordance with the requirements of the statute in question. Such an interest can be enforced against the whole world. Example: registered charge or easement. Equitable Interest Any unregistered interest in the land. It is an interest in, or ownership of, property that is recognized by equity but not by the common law. A beneficiary under a trust has an equitable interest. Any disposal of an equitable interest (e.g. a sale) must be in writing. Some equitable interests in land must be registered or they will be lost if the legal title to the land is sold. Similarly, equitable interests in other property will be lost if the legal title is sold to a bona fide purchaser for value who has no notice of the equitable interest. In such circumstances the owner of the equitable interest may claim damages from the person who sold the legal title. (d) “disposal” and “dealings” Disposal refers to the granting of certain kinds of rights by the State Authority in respect of any land. Example: alienation, temporary occupation license, lease, etc.
Image of page 1