Podcast
Questions and Answers
Which of the following correctly describes the requirements of a land contract?
Which of the following correctly describes the requirements of a land contract?
- In writing, is signed by both parties and is delivered
- The agreement need not be in writing if the term of the agreement is for less than 3 years and the conditions in LPA, s 54(2) are met
- In writing, contains all the terms and is signed by both parties (correct)
- Intended as a contract, executed by the grantor in the presence of a witness who attests their signature and delivered
When a land contract is signed, the parties need not sign the same physical copy. The parties can sign different copies of the same document.
Is this statement true or false?
When a land contract is signed, the parties need not sign the same physical copy. The parties can sign different copies of the same document.
Is this statement true or false?
- True because s 2(1) permits all the terms to be in two documents provided they are identical (correct)
- True because the contractual terms can be incorporated by reference under s 2(2)
- False the parties must sign the same physical document
Two people enter into an agreement for lease of land. The agreement refers to various plans and a document which contains a scheme of building works that must be completed by the landlord prior to the commencement of the lease. The agreement is drafted by the seller’s solicitor and signed by both the buyer and seller. The landlord fails to undertake the building works and the prospective tenant refuses to enter into the lease. Which of the following statements best describes whether the landlord can compel the prospective tenant to enter into the lease under the terms of the agreement?
Two people enter into an agreement for lease of land. The agreement refers to various plans and a document which contains a scheme of building works that must be completed by the landlord prior to the commencement of the lease. The agreement is drafted by the seller’s solicitor and signed by both the buyer and seller. The landlord fails to undertake the building works and the prospective tenant refuses to enter into the lease. Which of the following statements best describes whether the landlord can compel the prospective tenant to enter into the lease under the terms of the agreement?
- The prospective tenant need not enter into the lease because the agreement does not comply with the necessary statutory formalities
- The prospective tenant must enter into the lease because the agreement complies with the necessary statutory formalities
- The prospective tenant need not enter into the lease because the landlord has not complied with plans and scheme of building works, which have been included in the sale agreement by incorporation (correct)
- The prospective tenant must enter into the lease because the plans and scheme of building works are not part of the agreement for lease
Two neighbouring land owners enter into an agreement in which one of the landowners will offer their neighbour the right to buy the land first if they decide to sell. The landowners subsequently orally decided to extend the period of the agreement. Which of the following statements correctly describes whether the agreement has been validly extended?
Two neighbouring land owners enter into an agreement in which one of the landowners will offer their neighbour the right to buy the land first if they decide to sell. The landowners subsequently orally decided to extend the period of the agreement. Which of the following statements correctly describes whether the agreement has been validly extended?
If you hold the benefit of a valid land contract, what kind of interest (if any) do you have in the land that is the subject matter of the contract?
If you hold the benefit of a valid land contract, what kind of interest (if any) do you have in the land that is the subject matter of the contract?
A buyer and seller enter into a valid contract for the sale of a piece of land. The seller subsequently decides to pull out of the deal because a higher offer from a third party is received. The buyer still wishes to proceed with the purchase. Which of the following options correctly describes the best advice to the buyer?
A buyer and seller enter into a valid contract for the sale of a piece of land. The seller subsequently decides to pull out of the deal because a higher offer from a third party is received. The buyer still wishes to proceed with the purchase. Which of the following options correctly describes the best advice to the buyer?
To which of the following types of document would LP(MP)A 1989, s.2 NOT apply?
To which of the following types of document would LP(MP)A 1989, s.2 NOT apply?
A woman is the owner of a registered freehold estate (the 'Land'). The woman grants to a man an interest in the Land. The man does not protect the interest in accordance with the relevant rule under the LRA 2002.
Two years ago, the woman gifted the Land to their friend.
A year later, the friend sold the Land to a buyer.
Last month, the buyer died. Their daughter inherited the Land.
Assuming the man never protects his interest. Who on the facts will be bound by the man's interest during their period ownership of the Land?
A woman is the owner of a registered freehold estate (the 'Land'). The woman grants to a man an interest in the Land. The man does not protect the interest in accordance with the relevant rule under the LRA 2002.
Two years ago, the woman gifted the Land to their friend.
A year later, the friend sold the Land to a buyer.
Last month, the buyer died. Their daughter inherited the Land. Assuming the man never protects his interest. Who on the facts will be bound by the man's interest during their period ownership of the Land?
To which of the follow scenarios would the basic rule of priority apply?
To which of the follow scenarios would the basic rule of priority apply?
Which of the following options is a 'registrable disposition' to which s 29 will apply?
Which of the following options is a 'registrable disposition' to which s 29 will apply?
