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Law of Property Act 1925: Difference between revisions
→Section 136
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===[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20/section/136 Section 136]=== | ===[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20/section/136 Section 136]=== | ||
Section 136 [[Law of Property Act 1925]] sets out the formal requirements for an [[assignment]] to be a [[legal assignment]] and not merely an [[equitable assignment]]. The key advantage this brings is that the [[assignee]] can bring a court action to enforce the assigned right without joining the [[assignor]] in the proceedings. Other than that, though, there's little practical difference between the two. | Section 136 [[Law of Property Act 1925]] sets out the formal requirements for an [[assignment]] to be a [[legal assignment]] and not merely an [[equitable assignment]]. The key advantage this brings is that the [[assignee]] can bring a court action to enforce the assigned right without joining the [[assignor]] in the proceedings. Other than that, though, there's little practical difference between the two. The key formal requirements to comply with section 136 are that it must be or legal and not equitable right, '''in writing''', an '''unconditional''' assignment of the '''whole''' right, ''expressed as a title transfer not a charge''', notified to obligor of the assigned right. | ||
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