John Frederick Bathurst (as Administrator of the estate of Michael David Bathurst deceased) v Philip Charles Scarborow
Publication details: 2004Subject(s): Summary: [2004] EWCA Civ 411, 1 April 2004. Appeal by defendant (S) against County Court decision that he was not entitled to become the beneficial owner of the whole of a partnership property on dissolution of the partnership. S had been in a partnership with his friend Michael David Bathurst (B). S and B had purchased a property using partnership funds as an investment with the intention of storing partnership stock there. The transfer document stated that they held the property on trust for themselves as joint tenants. After M's death a dispute arose as to whether the right of survivorship applied to the beneficial interests in the property. S insisted that the property had been purchased outside the partnership for tax reasons and that they had agreed to a right of survivorship in respect of the business as a whole including the property in question. The judge had concluded that there was no express agreement between S and B that they would purchase the property outside the partnership dismissing the claim to the right of survivorship."Held": that partnership property could be held by partners as joint tenants where there was clear evidence of their intention to vary the normal rule that property bought with partnership money was deemed to have been bought for the partnership. It was accepted that there was clear evidence that they had agreed to take the property as beneficial joint tenants. Appeal allowed. View judgment at www.bailii.org.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS67868 (Browse shelf(Opens below)) | 1 | Available | 126196-1001 | |
| Law report | Virtual Online | ONLINE (Browse shelf(Opens below)) | 1 | Available | 126196-2001 |
[2004] EWCA Civ 411, 1 April 2004. Appeal by defendant (S) against County Court decision that he was not entitled to become the beneficial owner of the whole of a partnership property on dissolution of the partnership. S had been in a partnership with his friend Michael David Bathurst (B). S and B had purchased a property using partnership funds as an investment with the intention of storing partnership stock there. The transfer document stated that they held the property on trust for themselves as joint tenants. After M's death a dispute arose as to whether the right of survivorship applied to the beneficial interests in the property. S insisted that the property had been purchased outside the partnership for tax reasons and that they had agreed to a right of survivorship in respect of the business as a whole including the property in question. The judge had concluded that there was no express agreement between S and B that they would purchase the property outside the partnership dismissing the claim to the right of survivorship."Held": that partnership property could be held by partners as joint tenants where there was clear evidence of their intention to vary the normal rule that property bought with partnership money was deemed to have been bought for the partnership. It was accepted that there was clear evidence that they had agreed to take the property as beneficial joint tenants. Appeal allowed. View judgment at www.bailii.org.