Mortgage - proceeds of sale
Mortgage - proceeds of sale
- 2002
- Estates Gazette Case Summaries [2002] 12 EG 133 (CS) .
"Barclays Bank plc v Burgess and another" CA 11 March 2002. Appellant and her husband (B) purchased house with the aid of mortgage from respondent bank (A). Money was also lent for the purposes of B's business which fell into difficulty and A brought proceedings to recover the money and gained a possession order. The judge held that Law of Property Act 1925 s105 did not apply on this occasion because B had sold the property themselves. B's appeal was allowed. The central issue being the appropriate basis for apportioning the sale proceeds.
BARCLAYS BANK PLC V BURGESS
MORTGAGE
LEGAL CHARGE
"Barclays Bank plc v Burgess and another" CA 11 March 2002. Appellant and her husband (B) purchased house with the aid of mortgage from respondent bank (A). Money was also lent for the purposes of B's business which fell into difficulty and A brought proceedings to recover the money and gained a possession order. The judge held that Law of Property Act 1925 s105 did not apply on this occasion because B had sold the property themselves. B's appeal was allowed. The central issue being the appropriate basis for apportioning the sale proceeds.
BARCLAYS BANK PLC V BURGESS
MORTGAGE
LEGAL CHARGE