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Home Forums Patrick Cannon Beneficial Interest Reply To: Beneficial Interest

#448
Patrick Cannon
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This is an unusual situation with the buyer having paid in full despite the long wait until completion. The basic analysis in Jerome v Kelly applies and assuming that the seller remains entitled to the enjoyment of the land and any rents arising then the beneficial ownership is split mostly in favour of the seller for the time being. It is probably best to look at this as more of a contractual matter in terms of the sale contract rather than in terms of beneficial ownership which tends to obscure the position. Date of disposal is the contract date assuming that this is not a conditional contract.