MindMap Gallery Sale of Land
This is the mind map about the sale of land, the process of selling the land.
Mind maps are a great resource to help you study. A mind map can take complex topics like plant kingdom and illustrate them into simple points, as shown above.
Mind maps are useful in constructing strategies. They provide the flexibility of being creative, along with the structure of a plan.
Vitamins and minerals are essential elements of a well-balanced meal plan. They help in ensuring that the body is properly nourished. A mind map can be used to map out the different vitamins a person requires.
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Sale of Land
Pre-Contract
Lock-out contracts
Pitt v PHH 1994
No oral contractsfor 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 MUSTusually 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 clearhe intends it as his deedpresently 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
NO witnesses needed
Authorities