Deck 5: Successive Interests in Land

Question 1

it has been possible to create new settlements within the ambit of the Settled Land Act 1925 after 1 January 1997.

Answer 1

False

Question 2

Under which of the following sections of the Settled Land Act 1925 does the tenant for life gain a power to exchange the settled land for other land?

A) Section 107
B) Section 38
C) Section 4
D) Section 30

Answer 2

B

Question 3

Which section of Trusts of Land and Appointment of Trustees Act 1996 would be used by the trustees to ensure that the current life tenant pays the expenses in relation to the land?

A) Section 11
B) Section 14
C) Section 6
D) Section 13

Answer 3

D

Question 4

If a tenant for life dies and the land remains settled, who becomes legal owner of the land immediately following the death under the Settled Land Act 1925?

A) The trustees of the settlement
B) The settlor if he is still alive, otherwise his next of kin
C) The Crown
D) The next of kin of the life tenant

Question 5

In which of the following situations does a tenant not have to give notice to the trustees of the settlement under the Settled Land Act 1925?

A) Sale
B) Grant of an option
C) Rebuilding works on the land
D) Grant of a charge in return for money where the money lent is less than the value of the property

Question 6

Which sections of Trusts of Land and Appointment of Trustees Act 1996 allow the settlor to ensure that the consent of the equitable owners is required before the trustees can exercise their powers?

A) Section 8
B) Section 10
C) Section 14
D) Section 15

Question 7

Does overreaching still operate where there are two trustees and an equitable owner, but the equitable owner has a life interest?

Question 8

Under the Settled Land Act 1925, in whom is the legal title vested?

Question 9

What is the effect of section 18 Settled Land Act 1925?

Question 10

Can the interests of a beneficiary under a settlement governed by the Settled Land Act 1925 be an overriding interest? Justify your answer by reference to the statutory provisions.

Question 11

If the interest of a life tenant is overreached, how is their life interest 'compensated' out of the proceeds of sale?

Question 12

What is meant by the trust instrument and the vesting deed in the case of a settlement between 1925 and 1997?

Question 13

By what method is the preference of the beneficiaries calculated under section 11 Trusts of Land and Appointment of Trustees Act 1996 - according to the number in favour of an action, or according to the total percentage of the property that each beneficiary has?

Question 14

If there are no trustees is a tenant for life able to sell the property?

Question 15

Which section of Trusts of Land and Appointment of Trustees Act 1996 gives a life tenant a right to occupy the property?

A) Section 12
B) Section 13
C) Section 6
D) Section 15

Question 16

What mechanism would be used to protect the beneficiaries' interests against purchasers and ensure they give their consent before the trustees sold the land, for example, in cases where their consent was required?

A) Entry under their own title number
B) A restriction
C) A notice
D) No mechanism

Question 17

life tenants and persons entitled in remainder who are not the trustees of land have equitable interests.

Question 18

trustees of land over which there are successive interests can use section 14 Trusts of Land and Appointment of Trustees Act 1996 as a means to regulate disputes.

Question 19

a tenant for life under the Settled Land Act 1925 can release his powers (contrast with his beneficial interest)

Question 20

the trustees of land over which there is a trust concerning successive ownership governed by Trusts of Land and Appointment of Trustees Act 1996 are subject to the normal trust duties.

Question 21

equitable interests under strict settlements are capable of being overreached on sale of the settled land.

Question 22

the interests of a life tenant can be the subject of a notice on the register.

Question 23

a tenant for life under the Settled Land Act 1925 is able to make improvements to the property at his own expense.

Question 24

the effect of section 13 Settled Land Act 1925 is to prevent people from trying to get round the requirement that there be a vesting deed by ensuring that it is impossible to deal with the land where there ought to have been a vesting deed.

Question 25

a tenant for life under the Settled Land Act 1925 is able to mortgage the legal interest for his own benefit (subject to any contrary provision in the settlement)

Question 26

True of false: section 106 Settled Land Act 1925 prevents a settlor from attempting to forbid a tenant for life to exercise his statutory powers.

Question 27

a tenant for life grants a lease for money in accordance with his powers (which is duly registered), and he then sells the property to a purchaser for value and the purchase money is paid to the two trustees. The lease will bind the purchaser.

Question 28

Which of the following people do not need to be at least consulted before a trustee can make a decision about land subject to successive interest?

A) The settlor
B) The person entitled in remainder
C) The life tenant
D) Any other trustees

Question 29

Which of the following things is a tenant for life not able to do?

A) Mortgage the property in order to raise money to buy a classic car
B) Grant an option to purchase to the owner of a classic car in return for the car
C) Grant a lease to his friend
D) Cut and sell the timber from the trees on the land

Question 30

Section 107 of the Settled Land Act 1925 specifies that the tenant for life is a ___ of his statutory powers for those entitled under the settlement. (5.2.4)