Payment in advance of completion
Payment in advance of completion
- 1993
- Times 24 November 1993, 32(1) .
In "Target Holdings Ltd v Redferns and another", HL 8 November 1993, it was held that a firm of solicitors which paid mortgage money to the vendor of a property in advance of the completion date was liable to the mortgagee for the money, even though the property was subsequently conveyed. The solicitors were entitled to credit for money realised from the sale of the property by the mortgagee.
CONVEYANCING
In "Target Holdings Ltd v Redferns and another", HL 8 November 1993, it was held that a firm of solicitors which paid mortgage money to the vendor of a property in advance of the completion date was liable to the mortgagee for the money, even though the property was subsequently conveyed. The solicitors were entitled to credit for money realised from the sale of the property by the mortgagee.
CONVEYANCING