Sale by co-owners - Sale by Sole Surviving Co-owner
3 important questions on Sale by co-owners - Sale by Sole Surviving Co-owner
What happens when the purchaser fails to overreach the beneficial interest in an unregistered title?
The beneficial interests are not registered at the Land Charges Department because they can be overreached. Where the purchaser has failed to overreach, the purchaser will be bound by the beneficial interests unless he is equity's darling.
Explain what happens when there is a restriction on the proprietorship register when the purchaser purchases from a sole surviving co-owner?
A restriction on the proprietorship register (s40 LRA 2002) indicates that the land is held as tenants in common. The purchaser must insist that the sole co-owner appoints a second trustee to overreach the equitable interest.
What happens when the equitable interest does not qualify as an overriding interest under Sch 3, para 2 LRA 2002?
The purchaser will not be bound but the purchaser will be prevented from registering as the new owner if the beneficiary has registered a restriction.
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