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Which one of the following is NOT a formality for a valid land contract created on or after 27 September 1989?

Signed by both parties correct incorrect

Witnessed correct incorrect

Containing all the terms correct incorrect

In writing correct incorrect

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What does s52(1) LPA 1925 stipulate?

It states that the creation or transfer of a legal estate must be by deed. correct incorrect

It states the necessary formalities for a valid deed. correct incorrect

It states the formalities for a valid land contract created before 27 September 1989. correct incorrect

It states those estates in land that have legal capacity. correct incorrect

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Which one of the following statements is FALSE in respect of the fee simple absolute in possession?

It is an inheritable estate. correct incorrect

It is one of the estates in land that has legal capacity. correct incorrect

It is longer in duration than a leasehold estate. correct incorrect

It is an estate in land liable to end upon the occurrence of a specified event. correct incorrect

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Which one of the following statements is TRUE?

The variation of any term of a land contract must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

Only the variation of a material term of a land contract must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

Only the variation of a material term of a land contract must comply with s1 LP(MP)A 1989 to be valid. correct incorrect

Only the variation of an immaterial term of a land contract must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

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Which one of the following statements is TRUE?

Both the grant and the exercise of an option to purchase must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

Only the grant, and not the exercise, of an option to purchase must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

Only the exercise, and not the initial grant, of an option to purchase must comply with s2 LP(MP)A 1989 to be valid. correct incorrect

An option to purchase does not need to comply with s2 LP(MP)A 1989 at any stage to be valid. correct incorrect

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Which one of the following statements is FALSE in respect of a purchaser who enters into a valid specifically enforceable contract to purchase a freehold estate?

At this stage the purchaser acquires an equitable interest in the land. correct incorrect

At this stage the purchaser is legally entitled to posses the freehold. correct incorrect

At this stage legal title to the freehold estate remains with the vendor. correct incorrect

At this stage the purchaser holds a proprietary interest in the land being purchased known as an estate contract. correct incorrect

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The requirements for a valid deed are stated in which statutory provision?

Section 1(2) LP(MP)A 1989 correct incorrect

Section 1(2) LPA 1925 correct incorrect

Section 52(1) LPA 1925 correct incorrect

Section 2 LP(MP)A 1989 correct incorrect

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When does legal title pass during the purchase of a registered freehold estate?

Upon completion of a valid contract correct incorrect

Upon the execution of a valid deed correct incorrect

Upon registration of the disposition correct incorrect

Upon moving into the property correct incorrect

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In which one of the following cases was rectification awarded to correct the mistaken omission from a land contract of a term which had been expressly agreed upon between the parties?

Record v Bell (1991) correct incorrect

Firstpost Homes Ltd v Johnson (1995) correct incorrect

Spiro v Glencrown Properties Ltd (1991) correct incorrect

Wright v Robert Leonard Developments Ltd (1994) correct incorrect

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What is commonhold?

A type of leasehold estate correct incorrect

A type of freehold estate correct incorrect

A type of trust correct incorrect

A type of licence correct incorrect