• Home
  • University of Law
  • Real Estate
  • Property Law and Real Estate Transactions

Property Law and Real Estate Transactions

Identify Property Register entry number 1 Property Register entry number 2 Property Register entry number 3 Proprietorship Register entry number 1 Proprietorship Register entry number 2 Describe Freehold property Easement to use certain conduits in common with next door neighbour No. 1 and there is an obligation to contribute equally to No.1 to maintain them Easement reserving the right to allow the mining rights underneath the property. If any damage to property, purchaser will receive compensation Two owners Owners are tenants in common. Explain No issue If you want to take the benefit of something, you must take the burden of it. Not alone in using, must share use with Number 1 - cannot stop them from using. Need to contribute to upkeep. Other parties have a right to mine under the property. Worry about any structural integrity of the property One owner (Lawrence) is deceased. There is a restriction on there being a sole owner. Cannot complete purchase until a second trustee is appointed. Action to take No issue Tell Client about right and obligation to financially contribute Cure Tell client. Cure - Do a full structural survey Do a coal mining - search. Tell Cure Tell Cure Where you have joint proprietors who own as Pay money and second trustee is in the transfer document. Make sure they are doing it at their cost. tenants in common. If one is dead, buyer has to overreach. Purchase moneys must be paid to ALL THE TRUSTEES BEING AT LEAST 2 Requisitions Still use these things? Old easements How often maintain, how much it cost Any costs and any disputes? Who is the Vendor? Who has this benefit? Still being used for mining? Last time used for mining? See certified death certificate. Please confirm that before completion you will appoint a second trustee (so can overreach). Proprietorship Register entry number 3 Charges Register entry number 1 Charges Register entry number 2 Personal indemnity covenant - personal because it is in the proprietorship register. Restrictive covenants exist between Stuart Griffin and Herbert Rhode There are a schedule of restrictive covenants. 1. Restrictive covenant to not use the property as anything other than as a private dwelling house. 2. To maintain the metal railings and regularly paint them. Suggestion of positive covenants (could be restrictive but restrictive covenants run with land anyway). There is a restriction on the property but unsure what the restriction is. A restriction binds the property so buyer will be bound by these restrictions Restrictions runs with the land. Client wants to use as something other than private dwelling. Burden runs with the land Positive covenant - does not run with the land but the personal indemnity from earlier means they are obliged to comply with this covenant. IN NUMBER. Need to see certified copy of the death certificate See Charges Register. Tell Cure Tell Client that you will be bound by the restrictive covenant but won't know what they are. Cure Get insurance. Tell Client there is a