- Latest available (Revised)
- Original (As enacted)
Law of Property Act 1925,
Part I
is up to date with all changes known to be in force on or before 14 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)The only estates in land which are capable of subsisting or of being conveyed or created at law are—
(a)An estate in fee simple absolute in possession;
(b)A term of years absolute.
(2)The only interests or charges in or over land which are capable of subsisting or of being conveyed or created at law are—
(a)An easement, right, or privilege in or over land for an interest equivalent to an estate in fee simple absolute in possession or a term of years absolute;
(b)A rentcharge in possession issuing out of or charged on land being either perpetual or for a term of years absolute;
(c)A charge by way of legal mortgage;
(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 and any other similar charge on land which is not created by an instrument;
(e)Rights of entry exercisable over or in respect of a legal term of years absolute, or annexed, for any purpose, to a legal rentcharge.
(3)All other estates, interests, and charges in or over land take effect as equitable interests.
(4)The estates, interests, and charges which under this section are authorised to subsist or to be conveyed or created at law are (when subsisting or conveyed or created at law) in this Act referred to as “legal estates,” and have the same incidents as legal estates subsisting at the commencement of this Act; and the owner of a legal estate is referred to as “an estate owner” and his legal estate is referred to as his estate.
(5)A legal estate may subsist concurrently with or subject to any other legal estate in the same land in like manner as it could have done before the commencement of this Act.
(6)A legal estate is not capable of subsisting or of being created in an undivided share in land or of being held by an infant.
(7)Every power of appointment over, or power to convey or charge land or any interest therein, whether created by a statute or other instrument or implied by law, and whether created before or after the commencement of this Act (not being a power vested in a legal mortgagee or an estate owner in right of his estate and exercisable by him or by another person in his name and on his behalf), operates only in equity.
(8)Estates, interests, and charges in or over land which are not legal estates are in this Act referred to as “equitable interests,” and powers which by this Act are to operate in equity only are in this Act referred to as “equitable powers.”
(9)The provisions in any statute or other instrument requiring land to be conveyed to uses shall take effect as directions that the land shall (subject to creating or reserving thereout any legal estate authorised by this Act which may be required) be conveyed to a person of full age upon the requisite trusts.
(10)The repeal of the Statute of Uses (as amended) does not affect the operation thereof in regard to dealings taking effect before the commencement of this Act.
Textual Amendments
F1Words repealed by Tithe Act 1936 (c. 43), Sch. 9 and Finance Act 1963 (c. 25), Sch. 14 Pt. VI
Modifications etc. (not altering text)
C1S. 1(2)(b) explained by Law of Property (Entailed Interests) Act 1932 (c. 27), s. 2
(1)A conveyance to a purchaser of a legal estate in land shall overreach any equitable interest or power affecting that estate, whether or not he has notice thereof, if—
(i)the conveyance is made under the powers conferred by the M1Settled Land Act, 1925, or any additional powers conferred by a settlement, and the equitable interest or power is capable of being overreached thereby, and the statutory requirements respecting the payment of capital money arising under the settlement are complied with;
(ii)the conveyance is made by [F2trustees of land] and the equitable interest or power is at the date of the conveyance capable of being overreached by such trustees under the provisions of subsection (2) of this section or independently of that subsection, and [F2the requirements of section 27 of this Act respecting the payment of capital money arising on such a conveyance] are complied with;
(iii)the conveyance is made by a mortgagee or personal representative in the exercise of his paramount powers, and the equitable interest or power is capable of being overreached by such conveyance, and any capital money arising from the transaction is paid to the mortgagee or personal representative;
(iv)the conveyance is made under an order of the court and the equitable interest or power is bound by such order, and any capital money arising from the transaction is paid into, or in accordance with the order of, the court.
[F3(1A)An equitable interest in land subject to a trust of land which remains in, or is to revert to, the settlor shall (subject to any contrary intention) be overreached by the conveyance if it would be so overreached were it an interest under the trust.]
(2)[F4Where the legal estate affected is subject to [F5a trust of land], then if at the date of a conveyance made after the commencement of this Act [F5by the trustees], the trustees (whether original or substituted) are either]—
(a)two or more individuals approved or appointed by the court or the successors in office of the individuals so approved or appointed; or
(b)a trust corporation,
[F4any equitable interest or power having priority [F5to the trust]] shall, notwithstanding any stipulation to the contrary, be overreached by the conveyance, and shall, according to its priority, take effect as if created or arising by means of a primary trust affecting the proceeds of sale and the income of the land until sale.
(3)The following equitable interests and powers are excepted from the operation of subsection (2) of this section, namely—
(i)Any equitable interest protected by a deposit of documents relating to the legal estate affected;
(ii)The benefit of any covenant or agreement restrictive of the user of land;
(iii)Any easement, liberty, or privilege over or affecting land and being merely an equitable interest (in this Act referred to as an “equitable easement”);
(iv)The benefit of any contract (in this Act referred to as an “estate contract”) to convey or create a legal estate, including a contract conferring either expressly or by statutory implication a valid option to purchase, a right of pre-emption, or any other like right;
(v)Any equitable interest protected by registration under the M2Land Charges Act, 1925, other than—
(a)an annuity within the meaning of Part II. of that Act;
(b)a limited owner’s charge or a general equitable charge within the meaning of that Act.
(4)Subject to the protection afforded by this section to the purchaser of a legal estate, nothing contained in this section shall deprive a person entitled to an equitable charge of any of his rights or remedies for enforcing the same.
(5)So far as regards the following interests, created before the commencement of this Act (which accordingly are not within the provisions of the M3Land Charges Act, 1925), namely—
(a)the benefit of any covenant or agreement restrictive of the user of the land;
(b)any equitable easement;
(c)the interest under a puisne mortgage within the meaning of the Land Charges Act, 1925, unless and until acquired under a transfer made after the commencement of this Act;
(d)the benefit of an estate contract, unless and until the same is acquired under a conveyance made after the commencement of this Act;
a purchaser of a legal estate shall only take subject thereto if he has notice thereof, and the same are not overreached under the provisions contained or in the manner referred to in this section.
Textual Amendments
F2Words in s. 2(1)(ii) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(2)(a)(i)(ii) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F3S. 2(1A) inserted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(2)(b) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F4Words substituted by Law of Property (Amendment) Act 1926 (c. 11), Sch.
F5Words in s. 2(2) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(2)(c)(i)(ii)(iii) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Modifications etc. (not altering text)
C2S. 2(1) extended by Leasehold Reform Act 1967 (c. 88), s. 8(4)(a)
C3S. 2(1) extended by Housing Defects Act 1984 (c. 50, SIF 61), s. 6(8), Sch. 2 para. 6
C4S. 2(1) extended (with modifications) by Housing Act 1985 (c. 68, SIF 61), s. 547, Sch. 20 Pt. III para. 20
C5S. 2(1) applied (1.11.1993) with modifications by 1993 c. 28, s. 34(3) (with ss. 94(2), 95); S.I. 1993/2134, arts. 2, 5
Marginal Citations
(1)All equitable interests and powers in or over land shall be enforceable against the estate owner of the legal estate affected in manner following (that is to say):—
(a)Where the legal estate affected is settled land, the tenant for life or statutory owner shall be bound to give effect to the equitable interests and powers in manner provided by the M4Settled Land Act, 1925;
F6(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)[F7In any other case], the estate owner shall be bound to give effect to the equitable interests and powers affecting his estate of which he has notice according to their respective priorities. This provision does not affect the priority or powers of a legal mortgagee, or the powers of personal representatives for purposes of administration.
F6(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Where, by reason . . . F8of an equitable right of entry taking effect, or for any other reason, a person becomes entitled to require a legal estate to be vested in him, then and in any such case the estate owner whose estate is affected shall be bound to convey or create such legal estate as the case may require.
(4)If any question arises whether any and what legal estate ought to be transferred or created as aforesaid, any person interested may apply to the court for directions in the manner provided by this Act.
(5)If the F9. . . estate owners refuse or neglect for one month after demand to transfer or create any such legal estate, or if by reason of their being out of the United Kingdom or being unable to be found, or by reason of the dissolution of a corporation, or for any other reason, the court is satisfied that the transaction cannot otherwise be effected, or cannot be effected without undue delay or expense, the court may, on the application of any person interested, make a vesting order transferring or creating a legal estate in the manner provided by this Act.
(6)This section does not affect a purchaser of a legal estate taking free from an equitable interest or power.
[F10(7)The county court has jurisdiction under this section where the land which is to be dealt with in the court does not exceed [F11£30,000] in capital value F12 . . .]
Textual Amendments
F6S. 3(1)(b)(2) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F7Words in s. 3(1)(c) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(3) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F8Words repealed by Reverter of Sites Act 1987 (c. 15, SIF 98:1). ss. 6(1), 8(2)(3)(4), Sch.
F9Words in s. 3(5) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F11Words in s. 3(7) substituted (1.7.1991) by S.I. 1991/724, art. 2(8), Sch. Pt. I (with art. 12)
F12Words in s. 3(7) omitted (1.7.1991) by virtue of S.I. 1991/724, art. 2(8), Sch. Pt. I (with art. 12)
Modifications etc. (not altering text)
C6S. 3 extended (1.7.1991) by S.I. 1991/724, art. 2(3) (with art. 12)
C7S. 3(7) modified by County Courts Act 1984 (c. 28, SIF 34), s. 24(1)(2)(c)
C8S. 3(7) amended by S.I. 1990/776, art. 4(1)(b)
Marginal Citations
(1)Interests in land validly created or arising after the commencement of this Act, which are not capable of subsisting as legal estates, shall take effect as equitable interests, and, save as otherwise expressly provided by statute, interests in land which under the Statute of Uses or otherwise could before the commencement of this Act have been created as legal interests, shall be capable of being created as equitable interests:
Provided that, after the commencement of this Act (and save as hereinafter expressly enacted), an equitable interest in land shall only be capable of being validly created in any case in which an equivalent equitable interest in property real or personal could have been validly created before such commencement.
(2)All rights and interests in land may be disposed of, including—
(a)a contingent, executory or future equitable interest in any land, or a possibility coupled with an interest in any land, whether or not the object of the gift or limitation of such interest or possibility be ascertained;
(b)a right of entry, into or upon land whether immediate or future, and whether vested or contingent.
(3)All rights of entry affecting a legal estate which are exercisable on condition broken or for any other reason may after the commencement of this Act, be made exercisable by any person and the persons deriving title under himF13....
Textual Amendments
(1)Where the purposes of a term of years created or limited at any time out of freehold land, become satisfied either before or after the commencement of this Act (whether or not that term either by express declaration or by construction of law becomes attendant upon the freehold reversion) it shall merge in the reversion expectant thereon and shall cease accordingly.
(2)Where the purposes of a term of years created or limited, at any time, out of leasehold land, become satisfied after the commencement of this Act, that term shall merge in the reversion expectant thereon and shall cease accordingly.
(3)Where the purposes are satisfied only as respects part of the land comprised in a term, this section shall have effect as if a separate term had been created in regard to that part of the land.
(1)Nothing in this Part of this Act affects prejudicially the right to enforce any lessor’s or lessee’s covenants, agreements or conditions (including a valid option to purchase or right of pre-emption over the reversion), contained in any such instrument as is in this section mentioned, the benefit or burden of which runs with the reversion or the term.
(2)This section applies where the covenant, agreement or condition is contained in any instrument—
(a)creating a term of years absolute, or
(b)varying the rights of the lessor or lessee under the instrument creating the term.
(1)A fee simple which, by virtue of the Lands Clauses Acts, . . . F14 or any similar statute, is liable to be divested, is for the purposes of this Act a fee simple absolute, and remains liable to be divested as if this Act had not been passed [F15and a fee simple subject to a legal or equitable right of entry or re-entry is for the purposes of this Act a fee simple absolute.]
(2)A fee simple vested in a corporation which is liable to determine by reason of the dissolution of the corporation is, for the purposes of this Act, a fee simple absolute.
(3)The provisions of—
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16
(b)the Friendly Societies Act, 1896, in regard to land to which that Act applies;
(c)any other statutes conferring special facilities or prescribing special modes (whether by way of registered memorial or otherwise) for disposing of or acquiring land, or providing for the vesting (by conveyance or otherwise) of the land in trustees or any person, or the holder for the time being of an office or any corporation sole or aggregate (including the Crown);
shall remain in full force.
F17. . ..
(4)Where any such power for disposing of or creating a legal estate is exercisable by a person who is not the estate owner, the power shall, when practicable, be exercised in the name and on behalf of the estate owner.
Textual Amendments
F14Words repealed by Reverter of Sites Act 1987 (c. 15, SIF 98:1), ss. 6(1), 8(3)(4), Sch.
F15Words added by Law of Property (Amendment) Act 1926 (c. 11), Sch.
F16S. 7(3)(a) repealed by Criminal Justice Act 1948 (c. 58), Sch. 10 Pt. I
F17In s. 7(3), the second paragraph repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
Modifications etc. (not altering text)
C9S. 7(4) saved by Compulsory Purchase Act 1965 (c. 56), s. 28(3)
(1)All leases or tenancies at a rent for a term of years absolute authorised to be granted by a mortgagor or mortgagee or by the M5Settled Land Act, 1925, or any other statute (whether or not extended by any instrument) may be granted in the name and on behalf of the estate owner by the person empowered to grant the same, whether being an estate owner or not, with the same effect and priority as if this Part of this Act had not been passed; but this section does not (except as respects the usual qualified covenant for quiet enjoyment) authorise any person granting a lease in the name of an estate owner to impose any personal liability on him.
(2)Where a rentcharge is held for a legal estate, the owner thereof may under the statutory power or under any corresponding power, create a legal term of years absolute for securing or compelling payment of the same; but in other cases terms created under any such power shall, unless and until the estate owner of the land charged gives legal effect to the transaction, take effect only as equitable interests.
Marginal Citations
(1)Every such order, declaration, or conveyance as is hereinafter mentioned, namely—
(a)every vesting order made by any court or other competent authority;
(b)every vesting declaration (express or implied) under any statutory power;
(c)every vesting instrument made by the trustees of a settlement or other persons under the provisions of the M6Settled Land Act, 1925;
(d)every conveyance by a person appointed for the purpose under an order of the court or authorised under any statutory power to convey in the name or on behalf of an estate owner;
(e)every conveyance made under any power reserved or conferred by this Act,
which is made or executed for the purpose of vesting, conveying, or creating a legal estate, shall operate to convey or create the legal estate disposed of in like manner as if the same had been a conveyance executed by the estate owner of the legal estate to which the order, declaration, vesting instrument, or conveyance relates.
(2)Where the order, declaration, or conveyance is made in favour of a purchaser, the provisions of this Act relating to a conveyance of a legal estate to a purchaser shall apply thereto.
(3)The provisions of the M7Trustee Act, 1925, relating to vesting orders and orders appointing a person to convey shall apply to all vesting orders authorised to be made by this Part of this Act.
Modifications etc. (not altering text)
C10S. 9 extended (1.12.1991) by Water Resources Act 1991 (c. 57, SIF 130) ss. 155(6), 225(2), (with ss. 16(6), 179, 222(3), Sch. 22 para. 1, Sch. 23 para. 6)
Marginal Citations
(1)Where title is shown to a legal estate in land, it shall be deemed not necessary or proper to include in the abstract of title an instrument relating only to interests or powers which will be over-reached by the conveyance of the estate to which title is being shown; but nothing in this Part of this Act affects the liability of any person to disclose an equitable interest or power which will not be so over-reached, or to furnish an abstract of any instrument creating or affecting the same.
(2)A solicitor delivering an abstract framed in accordance with this Part of this Act shall not incur any liability on account of an omission to include therein an instrument which, under this section, is to be deemed not necessary or proper to be included, nor shall any liability be implied by reason of the inclusion of any such instrument.
Modifications etc. (not altering text)
C11S. 10(2) extended by Administration of Justice Act 1985 (c. 61, SIF 98:1), s. 34(2)(a
C12S. 10(2) extended (1.1.1992) by Administration of Justice Act 1985 (c. 61, SIF 76:1), s. 9, Sch. 2 para. 37(a); S.I. 1991/2683, art.2
C13S. 10(2) extended (prosp.) by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 119(5), 124, 126, Sch. 21 paras. 9(a), 12(2)(3) (the said s. 124 (which induces Sch. 21) being repealed (prosp.) by Courts and Legal Services Act 1990 (c. 41, SIF 76:1), s. 125(7), Sch. 20
C14S. 10(2) modified (12.9.2011) by The Legal Services Act 2007 (Designation as a Licensing Authority) Order 2011 (S.I. 2011/2038), art. 1, Sch. para. 3(3)
C15S. 10(2) applied (with modifications) (23.12.2011) by The Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011 (S.I. 2011/2866), art. 1(2), Sch. 2
(1)It shall not be necessary to register a memorial of any instrument made after the commencement of this Act in any local deeds registry unless the instrument operates to transfer or create a legal estate, or to create a charge thereon by way of legal mortgage; nor shall the registration of a memorial of any instrument not required to be registered affect any priority.
(2)Probates and letters of administration shall be treated as instruments capable of transferring a legal estate to personal representatives.
(3)Memorials of all instruments capable of transferring or creating a legal estate or charge by way of legal mortgage, may, when so operating, be registered.
Modifications etc. (not altering text)
C16S. 11 repealed (prosp.) by Law of Property Act 1969 (c. 59), s. 16(2), Sch. 2 Pt. I which repeal is no longer prospective as regards the Yorkshire deeds registries, their registers and areas
Nothing in this Part of this Act affects the operation of any statute, or of the general law for the limitation of actions or proceedings relating to land or with reference to the acquisition of easements or rights over or in respect of land.
This Act shall not prejudicially affect the right or interest of any person arising out of or consequent on the possession by him of any documents relating to a legal estate in land, nor affect any question arising out of or consequent upon any omission to obtain or any other absence of possession by any person of any documents relating to a legal estate in land.
This Part of this Act shall not prejudicially affect the interest of any person in possession or in actual occupation of land to which he may be entitled in right of such possession or occupation.
The persons expressed to be parties to any conveyance shall, until the contrary is proved, be presumed to be of full age at the date thereof.
Textual Amendments
F18Ss. 16–18 repealed (with saving) by Finance Act 1975 (c. 7, SIF 63:1), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I
Textual Amendments
F19S. 19 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 ( with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
The appointment of an infant to be a trustee in relation to any settlement or trust shall be void, but without prejudice to the power to appoint a new trustee to fill the vacancy.
A married infant shall have power to give valid receipts for all income (including statutory accumulations of income made during the minority) to which the infant may be entitled in like manner as if the infant were of full age.
(1)Where a legal estate in land (whether settled or not) is vested [F22, either solely or jointly with any other person or persons, in a person lacking capacity (within the meaning of the Mental Capacity Act 2005) to convey or create a legal estate, a deputy appointed for him by the Court of Protection or (if no deputy is appointed] for him) any person authorised in that behalf shall, under an order of [F23the Court of Protection] , or of the court, or under any statutory power, make or concur in making all requisite dispositions for conveying or creating a legal estate in his name and on his behalf.
(2)If land [F21subject to a trust of land] is vested, either solely or jointly with any other person or persons, in a person who [F24lacks capacity (within the meaning of that Act) to exercise] his functions as trustee, a new trustee shall be appointed in the place of that person, or he shall be otherwise discharged from the trust, before the legal estate is dealt with [F21by the trustees].
[F25(3)Subsection (2) of this section does not prevent a legal estate being dealt with without the appointment of a new trustee, or the discharge of the incapable trustee, at a time when the donee of [F26an enduring power of attorney or lasting power of attorney (within the meaning of the 2005 Act) is entitled to act for the trustee who lacks capacity inrelation to the dealing.]]]
Textual Amendments
F20S. 22 substituted by Mental Health Act 1959 (c. 72), Sch. 7 Pt. I
F21Words in s. 22(2) and sidenote substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(6) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F22Words in s. 22(1) substituted (1.10.2007) by Mental Capacity Act 2005 (c. 9), ss. 67(1), 68, Sch. 6 para. 4(2)(a)(i) (with ss. 27, 28, 29, 62); S.I. 2007/1897, art. 2(1)(d)
F23Words in s. 22(1) substituted (1.10.2007) by Mental Capacity Act 2005 (c. 9), ss. 67(1), 68, Sch. 6 para. 4(2)(a)(ii) (with ss. 27, 28, 29, 62); S.I. 2007/1897, art. 2(1)(d)
F24Words in s. 22(2) substituted (1.10.2007) by Mental Capacity Act 2005 (c. 9), ss. 67(1), 68, Sch. 6 para. 4(2)(b) (with ss. 27, 28, 29, 62); S.I. 2007/1897, art. 2(1)(d)
F25S. 22(3) inserted (1.3.2000) by 1999 c. 15, s. 9(1)(2); S.I. 2000/216, art. 2
F26Words in s. 22(3) substituted (1.10.2007) by Mental Capacity Act 2005 (c. 9), ss. 67(1), 68, Sch. 6 para. 4(2)(c) (with ss. 27, 28, 29, 62); S.I. 2007/1897, art. 2(1)(d)
Textual Amendments
F27S. 23 (and the heading immediately preceding it) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Textual Amendments
F28S. 23 (and the heading immediately preceding it) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Textual Amendments
F29S. 24 (and the heading immediately preceding it) substituted (1.1.1997) for s. 24 by 1996 c. 47, s. 25(1), Sch. 3 para. 4(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
(1)The persons having power to appoint new trustees of land shall be bound to appoint the same persons (if any) who are for the time being trustees of any trust of the proceeds of sale of the land.
(2)A purchaser shall not be concerned to see that subsection (1) of this section has been complied with.
(3)This section applies whether the trust of land and the trust of proceeds of sale are created, or arise, before or after the commencement of this Act.]
Textual Amendments
F30S. 24 (and the heading immediately preceding it) substituted (1.1.1997) for s. 24 by 1996 c. 47, s. 25(1), Sch. 3 para. 4(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Textual Amendments
F31S. 25 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
Textual Amendments
F32S. 26 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
[F33(1)A purchaser of a legal estate from trustees of land shall not be concerned with the trusts affecting the land, the net income of the land or the proceeds of sale of the land whether or not those trusts are declared by the same instrument as that by which the trust of land is created.]
[F34(2)Notwithstanding anything to the contrary in the instrument (if any) creating a [F35trust] of land or in [F35any trust affecting the net proceeds of sale of the land if it is sold], the proceeds of sale or other capital money shall not be paid to or applied by the direction of fewer than two persons as [F35trustees], except where the trustee is a trust corporation, but this subsection does not affect the right of a sole personal representative as such to give valid receipts for, or direct the application of, proceeds of sale or other capital money, nor, except where capital money arises on the transaction, render it necessary to have more than one trustee.]
Textual Amendments
F33S. 27(1) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(8)(a) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F34S. 27(2) substituted by Law of Property (Amendment) Act 1926 (c. 11), Sch.
F35Words in s. 27(2) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(8)(b)(i)(ii)(iii) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
Textual Amendments
F36S. 28 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
Textual Amendments
F37S. 29 repealed (1.1.1997) by 1996 c. 47, ss. 9(9), 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
Textual Amendments
F38S. 30 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
(1)Where any property, vested in trustees by way of security, becomes, by virtue of the statutes of limitation, or of an order for foreclosure or otherwise, discharged from the right of redemption, it shall be held by them [F40in trust—
(a)to apply the income from the property in the same manner as interest paid on the mortgage debt would have been applicable; and
(b)if the property is sold, to apply the net proceeds of sale, after payment of costs and expenses, in the same manner as repayment of the mortgage debt would have been applicable.]
[F41(2) Subsection (1) of this section] operates without prejudice to any rule of law relating to the apportionment of capital and income between tenant for life and remainderman.
F42(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F43(4)Where—
(a)the mortgage money is capital money for the purposes of the Settled Land Act 1925;
(b)land other than any forming the whole or part of the property mentioned in subsection (1) of this section is, or is deemed to be, subject to the settlement; and
(c)the tenant for life or statutory owner requires the trustees to execute with respect to land forming the whole or part of that property a vesting deed such as would have been required in relation to the land if it had been acquired on a purchase with capital money,
the trustees shall execute such a vesting deed.]
(5)This section applies whether the right of redemption was discharged before or after the first day of January, nineteen hundred and twelve, but has effect without prejudice to any dealings or arrangements made before that date.
Textual Amendments
F39Word in s. 31 sidenote substituted (1.1.1997) by 1996 c.47, s. 5(1), Sch. 2 para. 1(6)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F40S. 31(1)(a)(b) and preceding words substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 1(2)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F41Words in s. 31(2) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. (1)(3)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F42S. 31(3) repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 1(4)(7), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F43S. 31(4) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 1(5)(7) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Textual Amendments
F44S. 32 repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 2(1)(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
The provisions of this Part of this Act relating to [F45trustees of land] apply to personal representatives holding [F45land in trust], but without prejudice to their rights and powers for purposes of administration.
Textual Amendments
F45Words in s. 33 substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(9)(a)(b) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
(1)An undivided share in land shall not be capable of being created except as provided by the M8Settled Land Act, 1925, or as hereinafter mentioned.
(2)Where, after the commencement of this Act, land is expressed to be conveyed to any persons in undivided shares and those persons are of full age, the conveyance shall (notwithstanding anything to the contrary in this Act) operate as if the land had been expressed to be conveyed to the grantees, or, if there are more than four grantees, to the four first named in the conveyance, as joint tenants [F46in trust for the persons interested in the land]:
Provided that, where the conveyance is made by way of mortgage the land shall vest in the grantees or such four of them as aforesaid for a term of years absolute (as provided by this Act) as joint tenants subject to cesser on redemption in like manner as if the mortgage money had belonged to them on a joint account, but without prejudice to the beneficial interests in the mortgage money and interest.
(3)A devise bequest or testamentary appointment, coming into operation after the commencement of this Act, of land to two or more persons in undivided shares shall operate as a devise bequest or appointment of the land to F47. . . the personal representatives of the testator, and F47. . .(but without prejudice to the rights and powers of the personal representatives for purposes of administration) [F48in trust for the persons interested in the land].
[F49(3A)In subsections (2) and (3) of this section references to the persons interested in the land include persons interested as trustees or personal representatives (as well as persons beneficially interested).]
F50(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F46Words in s. 34(2) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 3(2)(6) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F47Words in s. 34(3) repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 3(3)(a)(6), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F48Words in s. 34(3) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 3(3)(b)(6) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F49S. 34(3A) inserted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 3(4)(6) (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
F50S. 34(4) repealed (1.1.1997) by 1996 c. 47, ss. 5(1), 25(2), Sch. 2 para. 3(5)(6), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
Modifications etc. (not altering text)
C17S. 34 applied by Leasehold Reform Act 1967 (c. 88), s. 6(1)
Marginal Citations
Textual Amendments
F51S. 35 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2
(1)Where a legal estate (not being settled land) is beneficially limited to or held in trust for any persons as joint tenants, the same shall be held [F52in trust], in like manner as if the persons beneficially entitled were tenants in common, but not so as to sever their joint tenancy in equity.
(2)No severance of a joint tenancy of a legal estate, so as to create a tenancy in common in land, shall be permissible, whether by operation of law or otherwise, but this subsection does not affect the right of a joint tenant to release his interest to the other joint tenants, or the right to sever a joint tenancy in an equitable interest whether or not the legal estate is vested in the joint tenants:
Provided that, where a legal estate (not being settled land) is vested in joint tenants beneficially, and any tenant desires to sever the joint tenancy in equity, he shall give to the other joint tenants a notice in writing of such desire or do such other acts or things as would, in the case of personal estate, have been effectual to sever the tenancy in equity, and thereupon [F53the land shall be held in trust on terms] which would have been requisite for giving effect to the beneficial interests if there had been an actual severance.
[F54Nothing in this Act affects the right of a survivor of joint tenants, who is solely and beneficially interested, to deal with his legal estate as if it were not held [F53in trust].]
(3)Without prejudice to the right of a joint tenant to release his interest to the other joint tenants no severance of a mortgage term or trust estate, so as to create a tenancy in common, shall be permissible.
Textual Amendments
F52Words in s. 36(1) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 4(2)(4) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F53Words in s. 36(2) substituted (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para. 4(3)(a)(b)(4) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F54Words added by Law of Property (Amendment) Act 1926 (c. 11), Sch.
Modifications etc. (not altering text)
C18S. 36 applied by Leasehold Reform Act 1967 (c. 88), s. 6(1)
C19S. 36(2) extended retrospectively by Law of Property (Joint Tenants) Act 1964 (c. 63), ss. 1, 2
A husband and wife shall, for all purposes of acquisition of any interest in property, under a disposition made or coming into operation after the commencement of this Act, be treated as two persons.
(1)Where under a disposition or other arrangement which, if a holding in undivided shares had been permissible, would have created a tenancy in common, a wall or other structure is or is expressed to be made a party wall or structure, that structure shall be and remain severed vertically as between the respective owners, and the owner of each part shall have such rights to support and user over the rest of the structure as may be requisite for conferring rights corresponding to those which would have subsisted if a valid tenancy in common had been created.
(2)Any person interested may, in case of dispute, apply to the court for an order declaring the rights and interests under this section of the persons interested in any such party structure, and the court may make such order as it thinks fit.
For the purpose of effecting the transition from the law existing prior to the commencement of the M9Law of Property Act, 1922, to the law enacted by that Act (as amended), the provisions set out in the First Schedule to this Act shall have effect—
(1)for converting existing legal estates, interests and charges not capable under the said Act of taking effect as legal interests into equitable interests;
(2)for discharging, getting in or vesting outstanding legal estates;
(3)for making provision with respect to legal estates vested in infants;
(4)for subjecting land held in undivided shares to [F55trusts];
(5)for dealing with party structures and open spaces held in common;
(6)F56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)for converting existing freehold mortgages into mortgages by demise;
(8)for converting existing leasehold mortgages into mortgages by sub-demise.
Textual Amendments
F55Word in s. 39(4) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(10) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F56S. 39(6) repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), s. 1(1), Sch. 1 Pt. 12
Marginal Citations
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: