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Sale of Land

Sale of Land
Authorities
Pitt v PHH 1994
Comm. New Towns v Cooper 1995
Alan Estates v WG Stores 1982
Pre-Contract
Lock-out contracts
Pitt v PHH 1994
No oral contracts
for sale of land
LPA 1989 s2 (exceptions!)
Lack of security
Gazumping
Gazundering
Exchange
"Exchange of contracts"
= exchange of documents leading to a contract
Comm. New Towns v Cooper 1995
Creates binding agreement
Contract for Sale
Law of Property (MP) Act 1989
s2
Contract documents
In writing
Include all terms
Signed by (or on behalf of) parties
Exceptions s5
Lease <3yrs
"In possession"
"In possession" LPA 1925 s54
Long v Tower Hamlets (1998)
Auction sale
Documents 'Contracts'
Binding agreement only occurs at exchange
Commissioners New Towns v Cooper (1995)
Completion
LPA 1925 s52
Land transfer MUST
usually be by deed
Exceptions (s54)
Inherit through will
Grant of lease <3yr
Not further sale of lease!
Deeds
Clearly a deed
"makes clear on its face it is intended to be a deed"
Validly executed
Signed & witnessed
Signed by authorised person(s)
In presence of witness(s)
Delivered
Is NOT physical transfer
"he makes it clear
he intends it as his deed
presently binding on him"
Alan Estates v WG Stores 1982
May be conditional or future
Escrow
Defined by s52 LPA (MP) Act 1989
After 31 July 1990
Before then
Deed had to be:
Signed
Sealed
Delivered
NO witnesses needed
50 1
author vip Fiona_
This is the mind map about the sale of land, the process of selling the land.
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