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Explain the nature of over-riding interests and discuss what are the disadvantages they pose to prospective purchasers.
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Explain the nature of over-riding interests and discuss what are the disadvantages they pose to prospective purchasers Registered land is title or ownership of land which is recorded in a register at the Land Registry. The basis of the register is to regulate the transfer, use and enjoyment of the registered land as set down in the Land Registration Act (LRA) 1925. Over-riding Interests come under Registerable Interests, this is divided into three categories these are minor interests, legal estates and over-riding interests. S.20 and S.23 LRA 1925 states that '...a purchaser takes the land subject to any existing over-riding interests, sometimes however these interests are not registered.' The idea behind over riding interests according to those who drafted the LRA 1925 Act is that they would be easily discoverable upon inspection. A purchaser is bound by an over-riding interest even though they are not mentioned in the register. This is...
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