Source: All England Reporter
Publisher Citation: [2012] All ER (D) 203 (Jan)
Neutral Citation: [2012] EWCA Civ 17
Court: Court of Appeal, Civil Division
Judge:

Lord Neuberger MR, Rix and Etherton LJJ

Representation Jonathan Seitler QC and Daniel Gatty (instructed by Eversheds LLP and TLT LLP) for the claimants.
  Jonathan Small QC, James Stark and Daniel Robinson (instructed by Clark Willis Solicitors and David Gray Solicitors) for the defendants.
  Nicole Sandells (instructed by Cobbetts LLP) for the interested party.
Judgment Dates: 24 January 2012

Catchwords

Sale of land - Mortgage - Equity release schemes - Sales of residential properties with promise by purchaser that vendors entitled to remain in their homes under tenancies - No such tenancies mentioned in sale contracts - Purchaser taking out mortgages to fund purchases - Sales and mortgages executed on same day - Whether mortgagees entitled to possession where purchaser defaulting on mortgages - Whether vendors having equitable rights with priority over mortgages - Whether rights amounting to overriding interest - 29(4), Sch 3.

The Case

Sale of land Mortgage. Having considered the relevant provisions of the the Court of Appeal, Civil Division, upheld the judge's decision, following the hearing of certain preliminary issues, to grant the claimant mortgagees possession orders in respect of the defendants' properties in circumstances where those defendants had previously entered into 'equity release schemes' with property purchasers who had subsequently taken loans from the claimants.

Practice Areas

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