Bank of Scotland Plc v King & Ors [2007] EWHC 2747 (Ch) (23 November 2007)

Bank of Scotland Plc v King & Ors [2007] EWHC 2747 (Ch) (23 November 2007)

The transfer (TR1) was delivered as a deed and not as an escrow; the conduct of the parties, use of funds, and absence of any reservation or condition at delivery, together with knowledge of the mortgage arrangement, establish unconditional completion. The claimant is entitled to have its charge registered against the property, and any vendor's lien is subordinated to the claimant's charge.

Citation
[2007] EWHC 2747 (Ch)
Parties
Claimant: Bank of Scotland PLC; First Defendant: Aaron Marcellus King; Second Defendant: Samuel Okoronkwo; Third Defendant: Uzo Onyema Okoronkwo
Jurisdiction
England and Wales
Judgment Date
23 November 2007
Procedural Posture
Chancery Division Civil Claim / Summary Judgment Application
Outcome
Summary judgment granted for the claimant.
Legal Topics
Delivery of Deeds, Escrow, Vendor's Lien, Priority of Charges, Summary Judgment, Authority of Solicitors, Land Registration Act 2002, Law of Property (miscellaneous Provisions) Act 1989
Property Law Land Registration Civil Procedure Delivery of Deeds Escrow Vendor's Lien Priority of Charges Summary Judgment +3 more

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Parties

Bank of Scotland PLC

Claimant

Aaron Marcellus King

First Defendant

Samuel Okoronkwo

Second Defendant

Uzo Onyema Okoronkwo

Third Defendant

Procedural Posture

Chancery Division Civil Claim / Summary Judgment Application

Legal Issues

  1. 1 Whether the transfer of property (TR1) was delivered as a deed or in escrow
  2. 2 Whether the claimant bank is entitled to have its charge registered against the property
  3. 3 Whether the Second and Third Defendants retain a vendor's lien with priority over the claimant's charge

Ratio Decidendi

The transfer (TR1) was delivered as a deed and not as an escrow; the conduct of the parties, use of funds, and absence of any reservation or condition at delivery, together with knowledge of the mortgage arrangement, establish unconditional completion. The claimant is entitled to have its charge registered against the property, and any vendor's lien is subordinated to the claimant's charge.

Court Disposition

Summary judgment granted for the claimant.

Orders

  • Declaration that the contract for sale and purchase was completed on 29 June 2004.
  • Declaration that the property is charged to the claimant by way of legal mortgage for £1.2 million plus interest, costs, expenses, and other monies.