⇒ A restriction is a condition which must be satisfied before a disposition can be registered (Land Registration Act 2002, section 40(1)). For example, if the register says "the freehold of Blackacre cannot be sold unless..", that would be a restriction.
⇒ The restriction device can be used to ensure beneficial interests are overreached on disposition by stipulating that money arising from the disposition must be paid to 2 trustees before the disposition can be registered.
⇒ If a beneficial interest is not overreached it will only bind a disponee if it falls within schedule 3, para 2, of the Land Registration Act 2002.
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