- What is legal and equitable interest?
- What does legal easement mean?
- What are equitable remedies in law?
- What is legal and equitable ownership?
- How do you know if an easement is legal or equitable?
- How long does an easement last?
- Can a property owner block an easement?
- Is it bad to have an easement on your property?
- Can easement rights be taken away?
- What is an equitable interest in a property?
- What is the difference between legal and equitable rights?
- Can you register an equitable interest in land?
- What is the difference between a legal charge and an equitable charge?
- Who is the dominant owner of an easement?
What is legal and equitable interest?
An equitable interest is an “interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary.” The equitable interest is a right in ….
What does legal easement mean?
An easement is the grant of a nonpossessory property interest that grants the easement holder permission to use another person’s land. … An affirmative easement gives the easement holder the right to do something on the grantor of the easement’s land, such as travel on a road through the grantor’s land.
What are equitable remedies in law?
Equitable remedies are actions that the court prescribes which will serve to resolve the breach or dispute. Equitable remedies are typically granted when legal remedies or monetary compensation cannot adequately resolve the wrongdoing.
What is legal and equitable ownership?
While a legal title focuses on the duties of the property owner, equitable title refers to the enjoyment of the property. Equitable title is the benefits the buyer will get to use and enjoy when he or she becomes the legal owner.
How do you know if an easement is legal or equitable?
Legal and Equitable Easements A legal easement “binds the world”; this means it is exercisable against any owner of the servient land regardless of whether they are put on notice of it. … An equitable easement on the other hand will only bind a purchaser of the servient land if he has notice of its existence.
How long does an easement last?
In most states, a prescriptive easement will be created if the individual’s use of the property meets the following requirements: The use is open and notorious, i.e. obvious and not secretive. The individual actually uses the property. The use is continuous for the statutory period – typically between 5 and 30 years.
Can a property owner block an easement?
An easement provides certain rights and restrictions and owners of land with registered easements should understand their legal implications. … Owners are generally prohibited from building over or too close to an easement or must obtain approval from the authority who owns the easement to do so.
Is it bad to have an easement on your property?
When you’re buying a house, you might find out that the property has an easement on it. Essentially this means that someone other than you could have access to the land. This isn’t necessarily a bad thing. For example, utility companies typically hold easements in case they need to access pipes or cables.
Can easement rights be taken away?
If an easement exists and the new owners of both properties find that it’s no longer of interest or use to the dominant property owner, the easement can be terminated by the dominant property owner signing a release document to the servient property owner.
What is an equitable interest in a property?
An equitable interest is an interest in or right over property, which gives the holder the right to acquire formal legal title.
What is the difference between legal and equitable rights?
Unlike a right recognisable in law, all equitable rights are enforceable only at the discretion of the court. … Legal rights, however, are enforceable as of right. Once the existence of the right is established it is not really open to the court to consider the merits of the situation before giving a remedy.
Can you register an equitable interest in land?
HM Land Registry registers only legal estates and the proprietor is registered as the owner of a legal estate. The register records the ownership of the legal estate in the property, not the underlying ownership (the ‘equitable’ or ‘beneficial’ interests).
What is the difference between a legal charge and an equitable charge?
Holding an equitable charge does not give the holder a power of sale, though they could go to court and obtain an order for sale based on their equitable charge. With lending, the legal charge holders have to give consent for another legal charge over the same property. … The big difference is in the power of sale.
Who is the dominant owner of an easement?
Land affected or “burdened” by an easement is called a “servient estate,” while the land or person benefited by the easement is known as the “dominant estate.” If the easement benefits a particular piece of land, it’s said to be “appurtenant” to the land.