English property law in the context of "English land law"

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⭐ Core Definition: English property law

English property law is the law of acquisition, sharing and protection of valuable assets in England and Wales. While part of the United Kingdom, many elements of Scots property law are different. In England, property law encompasses four main topics:

Property in land is the domain of the law of real property. The law of personal property is particularly important for commercial law and insolvency. Trusts affect everything in English property law. Intellectual property is also an important branch of the law of property. For unregistered land see Unregistered land in English law.

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👉 English property law in the context of English land law

English land law is the law of real property in England and Wales. Because of its heavy historical and social significance, land is usually seen as the most important part of English property law. Ownership of land has its roots in the feudal system established by William the Conqueror after 1066, but is now mostly registered and sold on the real estate market. The modern law's sources derive from the old courts of common law and equity, and legislation such as the Law of Property Act 1925, the Settled Land Act 1925, the Land Charges Act 1972, the Trusts of Land and Appointment of Trustees Act 1996 and the Land Registration Act 2002. At its core, English land law involves the acquisition, content and priority of rights and obligations among people with interests in land. Having a property right in land, as opposed to a contractual or some other personal right, matters because it creates priority over other people's claims, particularly if the land is sold on, the possessor goes insolvent, or when claiming various remedies, like specific performance, in court.

Land is usually acquired, first, by a contract of sale, and to complete a purchase, the buyer must register their interest with His Majesty's Land Registry. Similar systems run in Scotland and Northern Ireland. Around 15 per cent of land in England and Wales remains unregistered, so property disputes are still determined by principles developed by the courts. Human rights, like the right to a family life and home under ECHR article 8 and the right to peaceful enjoyment of possessions, under article 1 of the First Protocol, apply for everyone. Second, people may acquire rights in land by contributing to a home's purchase price, or to family life, if the courts can find evidence of a common intention that rights should be created. The law acknowledges a "resulting" or "constructive trust" over the property. These interests, and leases under 7 years length, do not need to be registered to be effective. Third, people can acquire land through proprietary estoppel. If someone is given an assurance that they will receive property, and they rely on this to their detriment, a court may acknowledge it. Fourth, adverse possession allows people who possess land, without formal objection by the owner, although this is now difficult to achieve in respect of a registered title.

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English property law in the context of English trust law

English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fund managers invest assets for people who wish to save for retirement). Although people are generally free to set the terms of trusts in any way they like, there is a growing body of legislation to protect beneficiaries or regulate the trust relationship, including the Trustee Act 1925, Trustee Investments Act 1961, Recognition of Trusts Act 1987, Financial Services and Markets Act 2000, Trustee Act 2000, Pensions Act 1995, Pensions Act 2004 and Charities Act 2011.

Trusts are usually created by a settlor, who gives assets to one or more trustees who undertake to use the assets for the benefit of beneficiaries. As in contract law no formality is required to make a trust, except where statute demands it (such as when there are transfers of land or shares, or by means of wills). To protect the settlor, English law demands a reasonable degree of certainty that a trust was intended. To be able to enforce the trust's terms, the courts also require reasonable certainty about which assets were entrusted, and which people were meant to be the trust's beneficiaries.

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