land equity presentation(jan08)
TRANSCRIPT
Land Law
The Lord of the Manor?
The rights, privileges and problems of buying your way
into the landed gentry
How much nobility can you buy?
• Many companies offer to sell the titles ‘Lord, Lady, Sir, Duke, Baron’ and others.
• In reality such titles cannot legally be sold.
• Only the disputed ‘feudal titles’ are semi-legitimate.
How to become Lord of the Manor
• Manorial Lordships are still treated as land by law, and are conveyed in a similar way
• Typically auctioned
• Avoid websites selling titles, however
The costs…
• Lordships can cost between £6,000 and £170,000
• Obligations – duty to maintain land
• Fraud is rife
…and the benefits
• Right to use ‘style’ of “Lord of the Manor of …” after your name
• Sometimes rights – hunting, mineral extraction, and many others.
• Very rarely anything of monetary value
Lord Marcher of Trelleck
• Owns 60 ‘manors’• Has demanded
£45,000 from unfortunate villagers.
• Such access fees initially capped, now ruled illegal.
• Raised the sale of titles to national prominence
Mark Roberts, Lord Marcher of Trelleck
Lordships on the market• Bermondsey, London
£40,000 • Smallburgh Catts, Norf
£11,000 • Stretton Sugwas, £8,500 • Bunshill, £8,000 • Plumpton, E Suss £7,500 • Earls Dallinghoo, Suff £7,000 • Dunclent in Stone, Worcs
£7,000 • Hamstall Ridware, Staffs
£6,750 • Great Raveley, Cambs £6,000
Equity & Trust Law
Pensions
Final Salary Pension Schemes;
Is it all bad news?
History and Past Performance• Final Salary Pension scheme closures
have accelerated from around 2000 when equity markets fell
• 2002; 70 per cent of schemes
were still open to new members• 2006; 33 per cent of schemes
were still open to new members • This decline has been closely
followed by the nation as it
threatens the future of
today’s workers
Slowdown In Closures• 2007; Percentage of schemes
open to new members only dropped 2 points to 31%
• The annual survey showed that 2/3 of schemes expected to remain open to new members over the next 5 years
• The same survey also showed that over 90% of schemes reported that they were fully funded
Increased Gov’t Backing• Pension Reforms 2012• Gordon Brown’s last budget as
Chancellor allocated £2 billion for pension shortfalls
• Peter Hain, the Work and Pensions Secretary, has added another £900 million to that pot
• That £2.9 billion equates to enhanced benefits equal to 90 per cent of what the 129,000, who’s Final Salary Pension scheme failed, had been due
Shift from Final-Salary Schemes• Despite slowdown in closures
the number of final salary schemes open to new members is at an all-time low of 31%
• 40% of schemes are expected to change the way existing members accrue benefits in the next five years
• Shift away from final-salary plans by private companies has forced employees into often uncertain money-purchase schemes