Equitable Mortgage in UK Law
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Swift 1st Ltd v Colin and Others
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The Land Registry have taken the point in correspondence that, as the charge was unregistered, it took effect in equity only and that, as an equitable mortgage, albeit made by deed, the power of sale did not arise. This, it seems to me, is erroneous. The power of sale, as I have said, arises under section 101 of the 1925 Act, and that merely requires that a mortgage be made by deed, which this one was.
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Orakpo v Manson Investments Ltd
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My Lords, there is no general doctrine of unjust enrichment recognised in English law. It is a convenient way of describing a transfer of rights from one person to another, without assignment or assent of the person from whom the rights are transferred and which takes place by operation of law in a whole variety of widely different circumstances.
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Banque Financiere de la Cite v Parc (Battersea) Ltd and Others
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This does not of course mean that questions of intention may not be highly relevant to the question of whether or not enrichment has been unjust.
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Lloyds Bank Plc v Rosset
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If this is right, the pieces of the jigsaw fit together reasonably well. A purchaser or mortgagee inspects and enquires before completion, in the established fashion. If it does not, then subsequent entry of a person into occupation before the transfer or mortgage has been registered (and "completed" for the purposes of section 19) does not have the consequence of creating an overriding interest under paragraph (g) in relation to that freehold or mortgage.
It may be that in this area the law is, or should be, moving towards adopting a more flexible response to particular circumstances, so that the end result of a dispute between a wife and a bank which has provided part of the price would not depend on notions as technical as the "successive steps" analysis of completion. The way ahead here may be the analogy with proprietary estoppel suggested by the Vice-Chancellor in Grant v. Edwards (1986) Ch. 638, 656, 657.
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Paragon Finance Plc v Pender and Another
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It is common ground that Paragon, as registered proprietor of the Legal Charge, retains legal ownership of it. In my judgment as a matter of principle the right to possession conferred by the Legal Charge remains exercisable by Paragon as the legal owner of the Legal Charge (i.e. as the registered proprietor of it), notwithstanding that Paragon may have transferred the beneficial ownership of the Legal Charge to the SPV.
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Southern Pacific Mortgages Ltd v Scott (Mortgage Business Plc intervening)
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There is a gap between any transaction and its registration. Assuming that all relevant registration requirements are met, the purchaser has now acquired an absolute right to the legal estate (and the mortgagee an absolute right to the charge). Her interest is of a different order from that of a purchaser before completion, who has the contractual right to have the property conveyed to her but may never in fact get it.
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Law of Property Act 1925
... ... Part I: General Principles as to Legal Estates, Equitable Interests and Powers ... 1: Legal estates and equitable interests ... or for a term of years absolute;(c) A charge by way of legal mortgage;(d) ... F1 and ... ...
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Land Charges Act 1925
... ... commencement ... Class C:—A mortgage charge or obligation affecting ... land of any of the following kinds, ... Act called a ‘puisne mortgage’); and ... (ii) Any equitable charge acquired by a tenant for ... life or statutory owner under the ... ...
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Settled Land Act 1925
... ... conveyance, and saving of rights of personal representatives and equitable chargees ... (1) A conveyance by personal representatives under either ... , may have to require effect to be given thereto by a legal mortgage, before the execution of a conveyance under either of those sections ... ...
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Land Charges Act 1972
... ... a puisne mortgage; ... a general equitable charge; ... ...
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Equitable Security Interests: Their Creation and Priority
Fraud, so it seems, never goes out of fashion. The United Bank of Kuwait plc advanced monies to Mr Sahib, and when the monies were not duly repaid, the Bank took proceedings to recover the debt due...... ... 1 — Property Fraud Kuwait and the Société Générate Alsacienne de Banque SA ('Sogenal'). Sogenal claimed that it held an equitable mortgage over the interests which were the subject of the charging order, that its mortgages were created before the charging orders obtained by the United ... ...
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The Mortgage Arrears Pre‐Action Protocol: An Opportunity Lost
In February 2008, the Civil Justice Council circulated for consultation a mortgage arrears pre‐action protocol that proposed some of the most radical and significant reforms of the repossession pro...... ... Hinting at a return to the equitable tradition, the draftprotocol required a minimum level of equitable dealing within the mortga ge rela tionshipcoupled withthe restriction and, at ti ... ...
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“LORD THURLOW'S EQUITY” OR “A CUCKOO IN THE LEGAL NEST”?
... ... pledge gives an assignable interest.8 Similarly a mortgage is an assignable right in the property charged and does not ... in such a situation the holder of the deeds had an equitable mortgage. This overuame the difficulties of the Statute of ... ...
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NOTES OF CASES
Equitable Priorities and the Matrimonial Home... ... NOTES OF CASES EQUITABLE PRIORITIES AND THE M ~TRIMONIAL HOME ONE of the chief ... , new in that (1) the mortgagee had an equitable mortgage only; and that (2) the wife had been deserted (and hence ... ...
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Mortgage set aside for undue influence but lender still entitled to possession pursuant to its equitable charge
The recent case of Santander UK PLC v. (1) Ashley Shaun Fletcher and (2) Paula Denise Fletcher [2018] EWHC 2778 (Ch) provides a useful reminder of the principles of undue influence in mortgage tran...
- Mortgage Set Aside For Undue Influence But Lender Still Entitled To Possession Pursuant To Its Equitable Charge Ms Clare Stothard, Steven Mills and Beth Lovell
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Essential Guide to Mortgages and Charges Over Land
This Essential Guide describes the most commonly used types of security that can be created or arise over property, the form and contents of a typical mortgage or fixed charge over property, due di...... ... the form and contents of a typical mortgage or fixed ... charge over property, due diligence and pre-completion ... – Legal mortgage ... – Equitable mortgage ... – Equitable fixed charge ... – Floating ... ...
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Security Over Art: An Introduction
... ... -1882 (the "Acts") mean that it is usually impracticable to take a mortgage or charge it is sometimes possible to avoid the problems arising under ... The mortgage will be equitable where the borrower's interest in the work of art is itself an equitable ... ...