LAND LAW Essay Example | Topics and Well Written Essays - 1750 words

LAND LAW - Essay Example The Law Commission in its Report No. 271 which gave way to the 2002 Act stated that the aim of the 2002 Act was to create a conveyancing climate in which: â€Å"...the register should be a complete and accurate reflection of the state of the title of the land at any given time, so that it is possible to investigate title to land on-line, with the absolute minimum of additional enquiries and inspections.†3 Section 70(1) of the Land Registration Act 1925 contained what can be described as a comprehensive list of property rights that could possible bind a bona fide purchaser. The greatest difficulty for a potential purchaser under the Land Registration Act 1925 was that although an overriding interest was not registered, it could bind the purchaser if the interest could be discovered by a reasonable investigation of title and inspection of the property. The list of these overriding interests under the Land Registration Act 1925 can be summarised as follows: 3- The rights of persons in actual occupation of the land in question or the rights of persons entitled to the receipt of profits and/or rents in respect of the land except where reasonable inquiries are made and the right of these persons are not discovered. 4- ‘Leases granted for a term not exceeding 21 years.’4 The Land Registration Act 2002 narrowed the list of these overriding interest as contained under Section 70(1)(g) of the Land Registration Act 1924 and goes on to function in such a way as to encourage the voluntary registration of these rights.. The revised list of overriding interests under the Land Registration Act contains a proviso that the rights are overriding upon first registration and by doing so expanded the list of those interest that are capable of registration. The new list of overriding interest include leases that terminate at the expiration of a seven