Part I General Principles as to Legal Estates, Equitable Interests and Powers
1. Legal estates and equitable interests.
2. Conveyances overreaching certain equitable interests and powers.
3. Manner of giving effect to equitable interests and powers.
4. Creation and disposition of equitable interests.
5. Satisfied terms, whether created out of freehold or leasehold land to cease.
6. Saving of lessors’ and lessees’ covenants.
7. Saving of certain legal estates and statutory powers.
8. Saving of certain legal powers to lease.
9. Vesting orders and dispositions of legal estates operating as conveyances by an estate owner.
10. Title to be shown to legal estates.
11. Registration in Middlesex and Yorkshire as respects legal estates.
12. Limitation and Prescription Acts.
13. Effect of possession of documents.
14. Interests of persons in possession.
15. Presumption that parties are of full age.
16–18.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Infants and Lunatics
19. Effect of conveyances of legal estates to infants.
20. Infants not to be appointed trustees.
21. Receipts by married infants.
22. Conveyances on behalf of persons suffering from mental disorder and as to land held by them in trust.
Dispositions on Trust for Sale
23. Duration of trusts for sale.
Trusts of land
24. Appointment of trustees of land.
25. Power to postpone sale.
26. Consents to the execution of a trust for sale.
27. Purchaser not to be concerned with the trusts of the proceeds of sale which are to be paid to two or more trustees or to a trust corporation.
28. Powers of management, &c. conferred on trustees for sale.
29. Delegation of powers of management by trustees for sale.
30. Powers of court where trustees for sale refuse to exercise powers.
31. Trust of mortgaged property where right of redemption is barred.
32. Implied trust for sale in personalty settlements.
33. Application of Pt. I. to personal representatives.
Undivided Shares and Joint Ownership
34. Effect of future dispositions to tenants in common.
35. Meaning of the statutory trusts.
36. Joint tenancies.
37. Rights of husband and wife.
38. Party structures.
39. Transitional provisions in First Schedule.
Part II Contracts, Conveyances and other Instruments
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41. Stipulations not of the essence of a contract.
42. Provisions as to contracts.
43. Rights protected by registration.
44. Statutory commencements of title.
45. Other statutory conditions of sale.
46. Forms of contracts and conditions of sale.
47. Application of insurance money on completion of a sale or exchange.
48. Stipulations preventing a purchaser, lessee, or underlessee from employing his own solicitor to be void.
49. Applications to the court by vendor and purchaser.
50. Discharge of incumbrances by the court on sales or exchanges.
Conveyances and other Instruments
51. Lands lie in grant only.
52. Conveyances to be by deed.
53. Instruments required to be in writing.
54. Creation of interests in land by parol.
55. Savings in regard to last two sections.
56. Persons taking who are not parties and as to indentures.
57. Description of deeds.
58. Provisions as to supplemental instruments.
59. Conditions and certain covenants not implied.
60. Abolition of technicalities in regard to conveyances and deeds.
61. Construction of expressions used in deeds and other instruments.
62. General words implied in conveyances.
63. All estate clause implied.
64. Production and safe custody of documents.
65. Reservation of legal estates.
66. Confirmation of past transactions.
67. Receipt in deed sufficient.
68. Receipt in deed or indorsed evidence.
69. Receipt in deed or indorsed authority for payment to solicitor.
70. Partial release of security from rentcharge.
71. Release of part of land affected from a judgment.
72. Conveyances by a person to himself, &c.
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74. Execution of instruments by or on behalf of corporations.
74A.Execution of instrument as a deed
75. Rights of purchaser as to execution.
76. Covenants for title.
77. Implied covenants in conveyances subject to rents.
78. Benefit of covenants relating to land.
79. Burden of covenants relating to land.
80. Covenants binding land.
81. Effect of covenant with two or more jointly.
82. Covenants and agreements entered into by a person with himself and another or others.
83. Construction of implied covenants.
84. Power to discharge or modify restrictive covenants affecting land.
Part III Mortgages, Rentcharges, and Powers of Attorney
85. Mode of mortgaging freeholds.
86. Mode of mortgaging leaseholds.
87. Charges by way of legal mortgage.
88. Realisation of freehold mortgages.
89. Realisation of leasehold mortgages.
90. Realisation of equitable charges by the court.
91. Sale of mortgaged property in action for redemption or foreclosure.
92. Power to authorise land and minerals to be dealt with separately.
93. Restriction on consolidation of mortgages.
94. Tacking and further advances.
95. Obligation to transfer instead of re-conveying, and as to right to take possession.
96. Regulations respecting inspection, production and delivery of documents, and priorities.
97. Priorities as between puisne mortgages.
98. Actions for possession by mortgagors.
99. Leasing powers of mortgagor and mortgagee in possession.
100. Powers of mortgagor and mortgagee in possession to accept surrenders of leases.
101. Powers incident to estate or interest of mortgagee.
102. Provision as to mortgages of undivided shares in land.
103. Regulation of exercise of power of sale.
104. Conveyance on sale.
105. Application of proceeds of sale.
106. Provisions as to exercise of power of sale.
107. Mortgagee’s receipts, discharges, &c.
108. Amount and application of insurance money.
109. Appointment, powers, remuneration and duties of receiver.
110. Effect of bankruptcy of the mortgagor on the power to sell or appoint a receiver.
111. Effect of advance on joint account.
112. Notice of trusts on transfer of mortgage.
113. Notice of trusts affecting mortgage debts.
114. Transfers of mortgages.
115. Reconveyances of mortgages by endorsed receipts.
116. Cesser of mortgage terms.
117. Forms of statutory legal charges.
118. Forms of statutory transfers of legal charges.
119. Implied covenants, joint and several.
120. Form of discharge of statutory mortgage or charge.
121. Remedies for the recovery of annual sums charged on land.
122. Creation of rentcharges charged on another rentcharge and remedies for recovery thereof.
Powers of Attorney
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125. Powers of attorney relating to land to be filed.
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Part IV Equitable Interests and things in Action
130. Creation of entailed interests in real and personal property.
131. Abolition of the rule in Shelley’s case.
132. As to heirs taking by purchase.
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134. Restriction on executory limitations.
135. Equitable waste.
136. Legal assignments of things in action.
137. Dealings with life interests, reversions and other equitable interests.
138. Power to nominate a trust corporation to receive notices.
Part V Leases and Tenancies
139. Effect of extinguishment of reversion.
140. Apportionment of conditions on severance.
141. Rent and benefit of lessee’s covenants to run with the reversion.
142. Obligation of lessor’s covenants to run with reversion.
143. Effect of licences granted to lessees.
144. No fine to be exacted for licence to assign.
145. Lessee to give notice of ejectment to lessor.
146. Restrictions on and relief against forfeiture of leases and underleases.
147. Relief against notice to effect decorative repairs.
148. Waiver of a covenant in a lease.
149. Abolition of interesse termini, and as to reversionary leases and leases for lives.
150. Surrender of a lease, without prejudice to underleases with a view to the grant of a new lease.
151. Provision as to attornments by tenants.
152. Leases invalidated by reason of non-compliance with terms of powers under which they are granted.
153. Enlargement of residue of long terms into fee simple estates.
154. Application of Part V. to existing leases.
Part VI Powers
155. Release of powers simply collateral.
156. Disclaimer of power.
157. Protection of purchasers claiming under certain void appointments.
158. Validation of appointments where objects are excluded or take illusory shares.
159. Execution of powers not testamentary.
160. Application of Part VI. to existing powers.
Part VII Perpetuities and Accumulations
161. Abolition of the double possibility rule.
162. Restrictions on the perpetuity rule.
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164. General restrictions on accumulation of income.
165. Qualification of restrictions on accumulation.
166. Restriction on accumulation for the purchase of land.
Part VIII Married Women and Lunatics
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Part IX Voidable Dispositions
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173. Voluntary disposition of land how far voidable as against purchasers.
174. Acquisitions of reversions at an under value.
Part X Wills
175. Contingent and future testamentary gifts to carry the intermediate income.
176. Power for tenant in tail in possession to dispose of property by specific devise or bequest.
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179. Prescribed forms for reference in wills.
Part XI Miscellaneous
180. Provisions as to corporations.
181. Dissolution of a corporation.
182. Protection of solicitor and trustees adopting Act.
183. Fraudulent concealment of documents and falsification of pedigrees.
184. Presumption of survivorship in regard to claims to property.
186. Rights of pre-emption capable of release.
187. Legal easements.
188. Power to direct division of chattels.
189. Indemnities against rents.
Redemption and Apportionment of Rents, &c.
190. Equitable apportionment of rents and remedies for non-payment or breach of covenant.
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192. Apportionment of charges payable for redemption of tithe rentcharge.
Commons and Waste Lands
193. Rights of the public over commons and waste lands.
194. Restrictions on inclosure of commons.
Judgments, &c. affecting Land
195.Equitable charges in right of judgment debt, &c.
196. Regulations respecting notices.
197. Notice of memorials registered in Middlesex and Yorkshire.
198. Registration under the Land Charges Act, 1925, to be notice.
199. Restrictions on constructive notice.
200. Notice of restrictive covenants and easements.
Part XII Construction, Jurisdiction, and General Provisions
201. Provisions of Act to apply to incorporeal hereditaments.
202. Provisions as to enfranchisement of copyholds, &c.
203. Payment into court, jurisdiction and procedure.
204. Orders of court conclusive.
205. General definitions.
206. Forms of instruments and examples of abstracts.
207. Repeals as respects England and Wales.
208. Application to the Crown.
209.Short title, commencement, and extent.
FIRST SCHEDULE Transitional Provisions
SECOND SCHEDULE Implied Covenants
THIRD SCHEDULE Forms of Transfer and Discharge of Mortgages
FOURTH SCHEDULE Forms relating to Statutory Charges or Mortgages of Freehold or Leasehold Land
FIFTH SCHEDULE Forms of Instruments
SIXTH SCHEDULE Epitomes of Abstracts of Title
(1)In this Act unless the context otherwise requires, the following expressions have the meanings hereby assigned to them respectively, that is to say:—
(i)“Bankruptcy” includes liquidation by arrangement; also in relation to a corporation means the winding up thereof;
(ii)“Conveyance” includes a mortgage, charge, lease, assent, vesting declaration, vesting instrument, disclaimer, release and every other assurance of property or of an interest therein by any instrument, except a will; “convey” has a corresponding meaning; and “disposition” includes a conveyance and also a devise, bequest, or an appointment of property contained in a will; and “dispose of” has a corresponding meaning;
(iii)“Building purposes” include the erecting and improving of, and the adding to, and the repairing of buildings; and a “building lease” is a lease for building purposes or purposes connected therewith;
(iiiA). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(iv)“Death duty” means estate duty . . . and every other duty leviable or payable on a death;
(v)“Estate owner” means the owner of a legal estate, but an infant is not capable of being an estate owner;
(vi)“Gazette” means the London Gazette;
(vii)“Incumbrance” includes a legal or equitable mortgage and a trust for securing money, and a lien, and a charge of a portion, annuity, or other capital or annual sum; and “incumbrancer” has a meaning corresponding with that of incumbrance, and includes every person entitled to the benefit of an incumbrance, or to require payment or discharge thereof;
(viii)“Instrument” does not include a statute, unless the statute creates a settlement;
(ix)“Land” includes land of any tenure, and mines and minerals, whether or not held apart from the surface, buildings or parts of buildings (whether the division is horizontal, vertical or made in any other way) and other corporeal hereditaments; also a manor, an advowson, and a rent and other incorporeal hereditaments, and an easement, right, privilege, or benefit in, over, or derived from land; . . and “mines and minerals” include any strata or seam of minerals or substances in or under any land, and powers of working and getting the same . . .; and “manor” includes a lordship, and reputed manor or lordship; and “hereditament” means any real property which on an intestacy occurring before the commencement of this Act might have devolved upon an heir;
(x)“Legal estates” mean the estates, interests and charges, in or over land (subsisting or created at law) which are by this Act authorised to subsist or to be created as legal estates; “equitable interests” mean all the other interests and charges in or over land . .; an equitable interest “capable of subsisting as a legal estate” means such as could validly subsist or be created as a legal estate under this Act;
(xi)“Legal powers” include the powers vested in a chargee by way of legal mortgage or in an estate owner under which a legal estate can be transferred or created; and “equitable powers” mean all the powers in or over land under which equitable interests or powers only can be transferred or created;
(xii)“Limitation Acts” mean the Real Property Limitation Acts, 1833, 1837 and 1874, and “limitation” includes a trust;
(xiii) “ Mental disorder ” has the meaning assigned to it by section 1 of the Mental Health Act 1983 ] , and “ receiver ”, in relation to a person suffering from mental disorder, means a receiver appointed for that person under art VIII of the Mental Health Act 1959 or Part VII of the said Act of 1983 ] of that Act; ]
(xiv)A “mining lease” means a lease for mining purposes, that is, the searching for, winning, working, getting, making merchantable, carrying away, or disposing of mines and minerals, or purposes connected therewith, and includes a grant or licence for mining purposes;
(xv)“Minister” means the “Minister of Agriculture and Fisheries”;
(xvi)“Mortgage” includes any charge or lien on any property for securing money or money’s worth; “legal mortgage” means a mortgage by demise or subdemise or a charge by way of legal mortgage and “legal mortgagee” has a corresponding meaning; “mortgage money” means money or money’s worth secured by a mortgage; “mortgagor” includes any person from time to time deriving title under the original mortgagor or entitled to redeem a mortgage according to his estate interest or right in the mortgaged property; “mortgagee” includes a chargee by way of legal mortgage and any person from time to time deriving title under the original mortgagee; and “mortgagee in possession” is, for the purposes of this Act, a mortgagee who, in right of the mortgage, has entered into and is in possession of the mortgaged property; and “right of redemption” includes an option to repurchase only if the option in effect creates a right of redemption;
(xvii)“Notice” includes constructive notice;
(xviii)“Personal representative” means the executor, original or by representation, or administrator for the time being of a deceased person, and as regards any liability for the payment of death duties includes any person who takes possession of or intermeddles with the property of a deceased person without the authority of the personal representatives or the court;
(xix)“Possession” includes receipt of rents and profits or the right to receive the same, if any; and “income” includes rents and profits;
(xx)“Property” includes any thing in action, and any interest in real or personal property;
(xxi)“Purchaser” means a purchaser in good faith for valuable consideration and includes a lessee, mortgagee or other person who for valuable consideration acquires an interest in property except that in Part I of this Act and elsewhere where so expressly provided “purchaser” only means a person who acquires an interest in or charge on property for money or money’s worth; and in reference to a legal estate includes a chargee by way of legal mortgage; and where the context so requires “purchaser” includes an intending purchaser; “purchase” has a meaning corresponding with that of “purchaser”; and “valuable consideration” includes marriage and formation of a civil partnership,] but does not include a nominal consideration in money;
(xxii)“Registered land” has the same meaning as in the Land Registration Act 2002; . .
(xxiii)“Rent” includes a rent service or a rentcharge, or other rent, toll, duty, royalty, or annual or periodical payment in money or money’s worth, reserved or issuing out of or charged upon land, but does not include mortgage interest; “rentcharge” includes a fee farm rent; “fine” includes a premium or foregift and any payment, consideration, or benefit in the nature of a fine, premium or foregift; “lessor” includes an underlessor and a person deriving title under a lessor or underlessor; and “lessee” includes an underlessee and a person deriving title under a lessee or underlessee, and “lease” includes an underlease or other tenancy;
(xxiv)“Sale” includes an extinguishment of manorial incidents, but in other respects means a sale properly so called;
(xxv)“Securities” include stocks, funds and shares;
(xxvi)“Tenant for life,” “statutory owner,” “settled land,” “settlement,” “vesting deed,” “subsidiary vesting deed,” “vesting order,” “vesting instrument,” “trust instrument,” “capital money,” and “trustees of the settlement” have the same meanings as in the Settled Land Act, 1925;
(xxvii)“Term of years absolute” means a term of years (taking effect either in possession or in reversion whether or not at a rent) with or without impeachment for waste, subject or not to another legal estate, and either certain or liable to determination by notice, re-entry, operation of law, or by a provision for cesser on redemption, or in any other event (other than the dropping of a life, or the determination of a determinable life interest); but does not include any term of years determinable with life or lives or with the cesser of a determinable life interest, nor, if created after the commencement of this Act, a term of years which is not expressed to take effect in possession within twenty-one years after the creation thereof where required by this Act to take effect within that period; and in this definition the expression “term of years” includes a term for less than a year, or for a year or years and a fraction of a year or from year to year;
(xxviii)“Trust Corporation” means the Public Trustee or a corporation either appointed by the court in any particular case to be a trustee or entitled by rules made under subsection (3) of section four of the Public Trustee Act, 1906, to act as custodian trustee;
(xxix)“Trust for sale,” in relation to land, means an immediate . . . trust for sale, whether or not exercisable at the request or with the consent of any person . .; “trustees for sale” mean the persons (including a personal representative) holding land on trust for sale; . .
(xxx)“United Kingdom” means Great Britain and Northern Ireland;
(xxxi)“Will” includes codicil.