This glossary of terms has been composed by FIRST STRATA to provide you with an easily accessible and comprehensive description of the many terms frequently used in all aspects of land sales.
We trust you will find it both useful and informative.
Negligence or unreasonable delay in enforcing a right. An equitable remedy may be refused in the case of a stale demand where a party has “slept on his rights” and thereby acquiesced in the infringement thereof for what is considered by the court to be an excessive length of time. (The word is singular, not plural.)
The Feast of the Annunciation: March 25, an English quarter day.
August 1, a Scottish quarter day.
The process of forming a single site from a number of parcels of land, usually for eventual development or redevelopment. This will include acquisition of the individual interests, removal or discharge of any restrictive covenants or other encumbrances and obtaining physical possession, when required, from occupiers.
Originally set up under the Community Land Act 1975, a body empowered by Part XII of the Local Government, Planning and Land Act 1980 to acquire land in Wales suitable for development, to execute infrastructure works and to dispose of the land to other persons for development by them.
A study carried out to discover land available, eg for development. It may be made by developers, surveyors, local planning authorities or other interested parties. Strictly speaking only land which is currently available, and where no obstacles or impediments to the proposed use or development exist, should be considered. However, the term is also used for studies aiming to identify land which may become available within a predetermined period, and these usually describe any action required to make the land available with vacant possession, with advice, where appropriate, upon the likelihood of securing planning and other approvals.
A stock of land held by a builder or developer for future development.
A certificate issued by the Land Registry to the proprietor of a parcel of land as proof of ownership and containing full details of the registered title. Cf TITLE DEEDS.
A burden imposed upon land which creates a third party right or interest in the land, especially one which has to be registered prior to the disposal of the servient (ie affected) land in order to be enforceable against a purchaser for value of that land. Examples of registrable charges are mortgages, contracts to buy or lease land, restrictive covenants and equitable easements. Registration where appropriate should be in:
a. the land charges register under the Land Charges Act 1972 (for unregistered land);
b. the charges register of the Land Registry (for registered land);
c. the local land charges register (for both unregistered and registered land) in respect of local land charges, ie those in favour of a local authority using its statutory powers.
A register for those land charges imposed upon unregistered land. It is one of the registers maintained by the Land Charges Department of the Land Registry under the Land Charges Act 1972. It should therefore be inspected by or on behalf of an intending purchaser of such land before completion. Cf LAND REGISTER.
A body created by the Land Commission Act 1967, but abolished in 1971, to acquire, manage and dispose of land on behalf of the community where it was felt that the community had contributed to the value of the land and should benefit from its profits.
Any system installed in land with a view to draining it of surface or underground water. See OCCUPIER’S DRAINAGE RATE; OWNER’S DRAINAGE RATE.
Formed by Act of Parliament in 1853, this company exists to provide long-term loans for capital improvements to estates and farms, subject to the approval of the Ministry of Agriculture, Fisheries and Food.
The owner of an interest in land who, in consideration of a rent or other payment (eg a premium), grants the right to exclusive possession of the whole or part of his land to another person for a specific or determinable period by way of a lease or tenancy. See TENANT.
Chattels attached to premises in such a manner as to become legally part of the freehold. They may not be removed by the tenant. Cf TENANT’S FIXTURES. See FIXTURES.
Any work of a capital nature, ie other than maintenance or repair, undertaken by the landlord, or by the tenant at the landlord’s expense, which increases the value of the landlord’s interest in a property. See IMPROVEMENTS.
1. The register of land interests and title which is kept by the Land Registry. It is in three parts: the property register; the proprietorship register and the charges register. Access to individual entries on the register is currently restricted to the owner of the land concerned or someone authorised by him but under The Land Registration Act 1988 the register is to be open to viewing by members of the public as from a date to be appointed. Cf LAND CHARGES REGISTER.
2. A record of specified details of publicly owned sites which are not being used for the purposes of the performance of any public body’s functions or the carrying on of their undertaking. There are restrictions on areas of land to be registered and provision for the authority to explain the reasons why the land is lying idle and its future expected use. A register is prepared by the Secretary of State for the Environment for each district or London Borough which he has designated for this purpose under Part X of the Local Government, Planning and Land Act 1980.
The process of recording details of land and its ownership on a register. The system of registration of title in England and Wales, originally introduced on a voluntary basis, has been varied to the extent that it is now compulsory in many areas, whilst the voluntary system was continued in others but has been suspended. The intention is that registration will become compulsory throughout both countries before the end of the century.
The government body, first set up in 1862, to simplify conveyancing by maintaining a "land register" recording details of interests in land and guaranteeing the validity of the titles registered. Its organisation comprises a head office in London and a number of regional offices. See LAND CHARGE.
A tribunal for England and Wales set up under the Lands Tribunal Act 1949 and proceeding in accordance with rules made by the Lord Chancellor. Its jurisdiction includes adjudication on disputed compensation for the compulsory acquisition of land, compensation for injury and loss for which entitlement accrues under the Town and Country Planning Act 1971, certain capital assessments of land made by the Commissioners of Inland Revenue, rating appeals from local valuation courts, leasehold reform appeals from leasehold valuation tribunals, discharge or modification of restrictive covenants and registration of notional obstruction of light. The tribunal comprises the President (who must be a barrister or have held judicial office) and members who are all either legally qualified or experienced in valuation. The tribunal also deals with references by agreement involving the valuation of land. A similar tribunal has been established for each of Scotland and Northern Ireland.