Term
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Definition
| A bona fide purchaser for value of a legal estate. |
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Term
| Equity's darling...bona fide= |
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Definition
| buyer must act in good faith |
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Term
| Equity's darling...Purchaser= |
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Definition
| any person who aquires the land otherwise than by operation of law (obtaining land under intestacy would be an example of operation of law) |
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Term
| Equity's darling... Value= |
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Definition
| means money or money's worth, or future marriage (the adequacy or otherwise of the value is not investigated. |
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Term
| Equity's darling... legal estate= |
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Definition
| Must be purchasing either a fee simple absolute, or a term of years absolute. |
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Term
| Equity's darling... without notice= |
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Definition
| Without actual, constructive or imputed notice. |
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Term
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Definition
| It means the purchaser actually knows about the equitable interest. |
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Term
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Definition
| If an interest is registered with the land charges register, this will be taken to = actual notice for the purchaser (regardless of whether or not the purchaser actually knew) |
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Term
| What does 'constructive notice' mean? |
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Definition
| Notice which a prudent person who made proper investigations would have had (therefore, if purchaser fails to be prudent and make proper investigations, and the interests would have been discovered had that been done, he will be held to have constructive notice) |
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Term
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Definition
CONSTRUCTIVE NOTICE
PRESENCE OF A TENANT ON THE LAND GAVE THE PURCHASER CONSTRUCTIVE NOTICE OF THE
TENANT'S LEASEHOLD INTEREST |
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Term
| Kingsnorth Finance v Tizard [1986] |
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Definition
IMPUTED NOTICE
D applied for a mortgage and signified on the application for them he was married
In actual fact, he was married but separated... his estranged wife still came to the house each day, often stayed over etc...
When a surveyor went to the house on behalf of the C, the D said that he was 'married but separated.
D defaulted on his mortgage
C sought reposession
Wife tried to assert her beneficial interest
HELD - the surveyor was held to have constructive notice, therefore the C had imputed notice. Judge said that once the surveyor found out that the D was actuall married, not single, the surveyor should have made further enquiries. |
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Term
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Definition
| Where an agent of the purchaser has notice (constructive or actual), the purchaser is assumed to have imputed notice. (agent who is directly involved obviously, e.g. solicitor, estate agent, surveyour) |
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Term
| Kingsnorth Finance v Tizard [1986] (on a rational decision on why you should accept an agent with alleged notice as your agent) |
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Definition
| As all this shizzle goes to trial... if someone alleges that your agent had actual/constructive knowledge, you go to trial to battle it out. If you deny that the person is your agent, then you cannot rely on what the agent said they DIDN'T see... therefore, you will have no case. |
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