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Feb 21, 2019 · In essence, an interest in land is a right (or a "bundle" of rights) that someone has in, against, under or over - or with respect to - a parcel of land. If the person holding the interest in land is the current owner of the land itself, then the "interest" means "simply" ownership of that land. There are many interests in land which do not ...
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An interest is a claim on a whole parcel of land, a title within a parcel of land, or against an interest already registered against a title to land. An interest is usually financial in nature, but this is not always the case. Other types can include access to a parcel. There are over 150 types of interests that can be registered on a title.
Feb 10, 2023 · Beneficial ownership is an interest in the economic benefit of a property. It belongs to the beneficial owner, who is entitled to the financial value of the land, regardless of the title entries at the Land Registry. The beneficial owner is entitled to: Live in the property. Receive a share of the rental income.
Legal Estates and Interests in Land. A ‘legal estate’ is a type of property right in land. There are two types of legal estate: Law of Property Act 1925, s.1 (1). An estate in fee simple absolute in possession (also known as a freehold). This grants indefinite ownership rights over the land.
As a property right, an interest in land can be sold by the owner of the interest or transferred to a third party in the same way as an estate in land can. The owner of an interest in land can also protect their interest as against a third party purchaser of the estate in which the interest is held. Legal and equitable interests in land ...
232 Definitions And Application. “terms” includes covenants, conditions, representations, warranties, grants and assignments. (2) Subject to subsection (3), this Division applies to any instrument that creates, assigns, modifies, discharges, enlarges or governs the priority of an interest. (b) creates a mortgage.
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Provincial government land registry offices provide a central and reliable system for recording the documents transferring ownership and interests in land. Two registration system operate in Ontario. The registry system is older and operates in the first-settled southern parts of the province. The land titles system prevails in northern Ontario.
