Equitable Mortgage in UK Law

Leading Cases
  • Swift 1st Ltd v Colin and Others
    • Chancery Division
    • 27 Julio 2011

    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.

    My attention was drawn to the decision of, firstly, Wilberforce J and then of the Court of Appeal in Re White Rose Cottage [1964] Ch 483. Wilberforce J held—in the case of a mortgage by deposit under seal, a true equitable mortgage—that the expression "the mortgaged property" in section 101 meant the property over which the mortgage deed purported to extend and was not limited to an equitable interest in that property.

  • Orakpo v Manson Investments Ltd
    • House of Lords
    • 06 Julio 1977

    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.

  • Banque Financiere de la Cite v Parc (Battersea) Ltd and Others
    • House of Lords
    • 26 Febrero 1998

    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.

  • Lloyds Bank Plc v Rosset
    • Court of Appeal (Civil Division)
    • 13 Mayo 1988

    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.

  • Paragon Finance Plc v Pender and Another
    • Court of Appeal (Civil Division)
    • 27 Junio 2005

    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.

  • Yaxley v Gotts and another
    • Court of Appeal (Civil Division)
    • 24 Junio 1999

    Plainly there are large areas where the two concepts do not overlap : when a landowner stands by while his neighbour mistakenly builds on the former's land the situation is far removed (except for the element of unconscionable conduct) from that of a fiduciary who derives an improper advantage from his client. But in the area of a joint enterprise for the acquisition of land (which may be, but is not necessarily, the matrimonial home) the two concepts coincide.

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Legislation
  • Law of Property Act 1925
    • UK Non-devolved
    • 1 de Enero de 1925
    ... ... as follows:— ... General Principles as to Legal Estates, Equitable Interests and Powers. Part I ... General Principles as to Legal ... term of years absolute; ... ) A charge by way of legal mortgage; ... ) Land tax, tithe rentcharge, and any other ... similar charge on ... ...
  • Land Charges Act 1925
    • UK Non-devolved
    • 1 de Enero de 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   ... ...
  • Settled Land Act 1925
    • UK Non-devolved
    • 1 de Enero de 1925
    ... ... conveyance, and saving of rights of personal representatives and equitable chargees. 8 Mode and costs of conveyance, and saving of rights of ... thereto by a legal mortgage, before the execution of a ... conveyance under either of those sections ... ...
  • Law of Property Act 1922
    • UK Non-devolved
    • 1 de Enero de 1922
    ... ... Legal Estates, Equitable Interests and Powers ... Legal Estates, Equitable Interests and Powers ... mortgagee or chargee by way of legal mortgage or an ... estate owner in right of his estate and exerciseable by him ... ...
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Books & Journal Articles
  • Equitable Security Interests: Their Creation and Priority
    • No. 3-1, February 1995
    • Journal of Financial Crime
    • 65-68
    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 ... ...
  • The Mortgage Arrears Pre‐Action Protocol: An Opportunity Lost
    • No. 72-5, September 2009
    • The Modern Law Review
    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 ... ...
  • “LORD THURLOW'S EQUITY” OR “A CUCKOO IN THE LEGAL NEST”?
    • No. 33-2, March 1970
    • The Modern Law Review
    ... ... 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 ... ...
  • NOTES OF CASES
    • No. 18-6, November 1955
    • The Modern Law Review
    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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Law Firm Commentaries
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