Overreaching

Question 1

City of London Building Society v Flegg

Answer 1

House was bought by MBs with help of wife’s parents, the Fleggs. Fs weren’t on legal title. MBs mortgaged house. When repossession was sought, held that Fs interests had been overreached, interest now attached to mortgage money.

Question 2

State Bank of India v Sood

Answer 2

s27 TLATA means that IF there is purchase money, the receipt must be given to 2 trustees.