Source: http://www.legislation.gov.uk/ukpga/Geo5/15-16/20/section/3
Timestamp: 2019-09-16 17:34:00
Document Index: 572559205

Matched Legal Cases: ['art.2', 'art.2', 'art.2', 'art. 2', 'art. 12', 'art. 2', 'art. 12', 'art. 2', 'art. 12', 'art. 4']

Law of Property Act 1925, Section 3 is up to date with all changes known to be in force on or before 16 September 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
3 Manner of giving effect to equitable interests and powers.E+W
(1)All equitable interests and powers in or over land shall be enforceable against the estate owner of the legal estate affected in manner following (that is to say):—
(a)Where the legal estate affected is settled land, the tenant for life or statutory owner shall be bound to give effect to the equitable interests and powers in manner provided by the M1Settled Land Act, 1925;
(c)[F2In any other case], the estate owner shall be bound to give effect to the equitable interests and powers affecting his estate of which he has notice according to their respective priorities. This provision does not affect the priority or powers of a legal mortgagee, or the powers of personal representatives for purposes of administration.
(3)Where, by reason . . . F3of an equitable right of entry taking effect, or for any other reason, a person becomes entitled to require a legal estate to be vested in him, then and in any such case the estate owner whose estate is affected shall be bound to convey or create such legal estate as the case may require.
(4)If any question arises whether any and what legal estate ought to be transferred or created as aforesaid, any person interested may apply to the court for directions in the manner provided by this Act.
(5)If the F4. . . estate owners refuse or neglect for one month after demand to transfer or create any such legal estate, or if by reason of their being out of the United Kingdom or being unable to be found, or by reason of the dissolution of a corporation, or for any other reason, the court is satisfied that the transaction cannot otherwise be effected, or cannot be effected without undue delay or expense, the court may, on the application of any person interested, make a vesting order transferring or creating a legal estate in the manner provided by this Act.
(6)This section does not affect a purchaser of a legal estate taking free from an equitable interest or power.
[F5(7)The county court has jurisdiction under this section where the land which is to be dealt with in the court does not exceed [F6£30,000] in capital value F7 . . .]
F1S. 3(1)(b)(2) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch.4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F2Words in s. 3(1)(c) substituted (1.1.1997) by 1996 c. 47, s. 25(1), Sch. 3 para. 4(3) (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F3Words repealed by Reverter of Sites Act 1987 (c. 15, SIF 98:1). ss. 6(1), 8(2)(3)(4), Sch.
F4Words in s. 3(5) repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art.2
F5S. 3(7) added by County Courts Act 1984 (c. 28, SIF 34), s. 148(1), Sch. 2 Pt. II para. 2(1)(3)
F6Words in s. 3(7) substituted (1.7.1991) by S.I. 1991/724, art. 2(8), Sch. Pt. I (with art. 12)
F7Words in s. 3(7) omitted (1.7.1991) by virtue of S.I. 1991/724, art. 2(8), Sch. Pt. I (with art. 12)
C1S. 3 extended (1.7.1991) by S.I. 1991/724, art. 2(3) (with art. 12)
C2S. 3(7) modified by County Courts Act 1984 (c. 28, SIF 34), s. 24(1)(2)(c)
C3S. 3(7) amended by S.I. 1990/776, art. 4(1)(b)