Jurisdiction(s):
United Kingdom

Overreaching via TA 1925 s36(6) appointment in TR1; purchaser must complete despite Form A restriction (N3 Living v Burgess Property Investments) – England and Wales

Published on: 06 July 2020

Published by a LexisNexis Property expert

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Article summary

N3 Living Ltd v Burgess Property Investments Ltd and anothe r [2020] EWHC 1711 (Ch) What are the practical implications of this case?

The appointment of a second trustee under section 36(6) of the Trustee Act 1925 within the TR1 transfer, to receive the sale proceeds, is a proper and standard means of satisfying a Form A restriction so as to confer good title on the purchaser, free from the interest protected by that restriction. This approach, set out in HM Land Registry’s Practice Guide 21, aligns with the general law of overreaching.

Provided the wording of the restriction and the requirements of the LRA 2002 and the Land Registration Rules 2003, SI 2003/1417 are met, a purchaser will obtain good title and be registered as proprietor free of any such interest, and need not be troubled by the character of the interest or trust safeguarded by the restriction, nor by the application of the sale proceeds. Therefore, in a...

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