Formalities for Contracts Relating to the Sale of Land Or Interests in Land and the Rule in Bain V. Fothergill

• Author(s): Law Reform Advisory Committee for Northern Ireland,
• Publisher: Stationery Office
• Pages: 30
• ISBN_10: 033708596X
  ISBN_13: 9780337085963
  
• Language: en
• Categories: Architecture / Urban & Land Use Planning , Political Science / General ,

Description:... This report makes recommendations for law reform regarding the sale of land or interests in land in Northern Ireland. It outlines the existing legal rules and considers the need for reform; as well as summarising the reforms implemented in England and Wales. Recommendations include that: new legislation should follow the English model set out in the Law of Property (Miscellaneous Provisions) Act 1989 subject to some modifications; contracts for the sale of land should be made in writing; a written contract should be required for the creation of an equitable mortgage by way of deposit of title deeds; periodic leases should be excluded from the requirements for a written contract; and abolition of the rule established in the case of Bain v. Fothergill regarding damages in a claim arising from a seller's failure to complete a contract of sale.