Land law problem question Essay Example | Topics and Well Written Essays - 2750 words

Land law problem question - turn out ExampleThe three of you were pursuing an accountancy course at the time and hoped to establish the accountancy sign as soon as you completed the course and in the event employ other relatives. However, since Ben and Clare agnize they could not raise enough money to complete their course after the purchase they acquired a owe of ?250,000 from Macau Bank against the holding. You, Amy, signed a firing off form of the bank to enable the loan application to go through, though you may not beget sought legal advice before doing so. Ben subsequently died in 2010 and Clare re-mortgaged the kinfolk for ?50,000 to Taiwan Bank in order to take additional training in order to describe for the loss of Bens expertise. This she did acting as the sole owner of the property without you being consulted. Now in 2011 Clare has decided that she is no longer interested in the accountancy firm and has fallen behind on mortgage repayments. You, Amy, on the other hand is still interested in pursuing the original intent of starting the family accountancy firm. Your Current Situation Your first challenge as Amy is to prove ownership of the property even though you were not registered as the owner having entrusted the registration to your older cousins Ben and Clare. ... to register a registrable disposition of a registered estate must tender to the registrar such information as the rules may provide about any unregistered interest affecting the estate which (i) falls within any of the paragraphs of inventory 3, and (ii) is of description specified by the rules (Land enrollment Act, 2002, 6 (71) (a-b). What all this kernel is that in your case, you do have an interest in the property that was registered and that was supposed to be stated out-rightly at the time that your two cousins were get registered in trust to own the property that your interests are included. Whether this was done or not should be confirm by you. However, given the events that subsequently took place, it is quite clear that your interests were catered for during this registration. A look at the mentioned Schedule 1 and Schedule 3 shows that the interest of a person in actual occupation of the property is catered for (Land Registration Act, 2002, Schedule 1(2). Since you have an interest in the house and the land on which it sits, and you actually occupy it, this preparation covers persons such as yourself. Considering the evidence that your interests were included I glean as follows. First of all, you were asked to sign the waiver form when your two cousins were applying for the mortgage from Macau bank. Signing the waiver basically means that in case of loser to repay the mortgage, then the entire house, including your share of it, could be attached to recover the outstanding dues (Degeling & Edelman, 2008, 31). The second forefinger was that when Clare sought a second mortgage from Taiwan Bank you should have been consulted save for the pa in you were in. This means that your interest was taken into consideration even at this point. That being the case