The court upheld a declaration by the trial judge that the claimant was an equitable chargee under an equitable charge of the defendant’s property, notwithstanding that the claimant relied on an oral agreement by the defendant for the grant to the claimant of a charge on the property and which therefore did not comply with … Continue reading Kinane v Mackie-Conteh: CA 1 Feb 2005
The respondent had purchased a property in her sole name, but held the property with her husband. On a breakdown of the marriage, he signed a transfer of the property but the consideration was not settled. After his death, it was argued that the document was ineffective under the 1989 Act because it had not … Continue reading Clark v Chandler: CA 28 Jun 2002
The customer had deposited title deeds with the bank as security for a loan, but no deed of charge had been executed. Held: The mere deposit of title deeds does not create an equitable charge without more. The 1989 Act operated as a statutory bar to such a claim. The rule that the deposit of … Continue reading United Bank of Kuwait Plc v Sahib and Others: ChD 24 Jun 1994
A tenant of a lease for 14 months, having agreed to exclude his security, granted a sub-tenancy to a business from month to month. The sub-tenant claimed security, but was held only to have taken an assignment of the tenant’s rights and so was not secure. Citations: Times 09-Apr-1999, Gazette 19-May-1999, Gazette 31-Mar-1999 Statutes: Law … Continue reading Parc (Battersea) Ltd (In Administrative Receivership) and An v Hutchinson: ChD 9 Apr 1999
A nomination of a beneficiary to take proceeds of a life policy, where that beneficiary was in turn to pay it on to somebody else, was akin to a secret trust, but nominations are not subject to Law of Property Act 1925 s 53 since a nomination is not a disposition. Citations: Times 24-Aug-1998, Gazette … Continue reading Gold and Another v Hill; Hill v Fold and Others: ChD 24 Aug 1998
The taxpayer and her son owned through a trust the entire beneficial interest in the shares of a company. She agreed to transfer other shares to him in return for his interest in the shares subject to the trust, releasing the trust. The Revenue contended that there must be a deed giving effect to the … Continue reading Oughtred v Inland Revenue Commissioners: HL 4 Nov 1959
The house had been bought during the marriage but in the husband’s sole name. The plaintiff’s charge secured the husband’s overdraft. The bank issued possession proceedings. Mr Rosset had left, but Mrs Rosset claimed, as against the bank an interest in it as the matrimonial home. She said there had been a common understanding or … Continue reading Lloyds Bank plc v Rosset: HL 29 Mar 1990
The parties were not married, but had brought together their resources to purchase a home in the name of one of them. Nothing had been said about the respective shares on which the property was to be held. Held: The shares were to be assessed as at the time of the sale, not the time … Continue reading Oxley v Hiscock: CA 6 May 2004
The court reviewed the conflicting authorities with regard to the creation of trusts and held that the overwhelming preponderance of authority was that, in the absence of any claim for rectification or rescission, provisions in a conveyance declaring that the plaintiff and the defendant were to hold the proceeds of sale of the property ‘upon … Continue reading Goodman v Gallant: CA 30 Oct 1985
