Land Law Problem Questions

[clara2015]

can someone else please help me solve this question? thank you^^

in 2011, five friends A,B,C,D and E purchased a shop house for them to live in during their postgraduate studies at a College nearby and ran a little café to earn some pocket money. B received 3000 pounds as a birthday gift from her mom, F. A contributed 30% towards the purchase price whereas C and B made a contribution of 20% equally. D and E made a contribution of 1500 pounds respectively towards the purchase price. Title to the shop house was conveyed into the names of C,E,B and A. The conveyance also states that all five of them own the house as 'beneficial joint tenants'. in 2012, B completed her Masters in Business Administration and was offered a job in other place. She therefore spoke to G who was keen in buying her interest the land. However, later she changed her mind and decided to stay as she had a better offer from a locally based multinational company. In December 2012, B invited her mother, F to come and live in with them. F provided 6000 pounds to have an extra bedroom for her use. F also helped with the baking in the café and her cream puffs attracted a large number of customers which increased the revenue in the café. In 2013, E divorced and was given custody of his child. He bought H, 5 years old to live with them. in 2014, D got tired of failing her papers, hence decided to quit college. she writes to everyone, informing them that she wants to sell her shares in the shop house. C was interested to buy her share, hence C telephoned D to communicate her intention. However C requested an extension of 24 hours as she needed to discuss the proposed price with her fiancé since he will be funding her. Unfortunately, C dies in a vehicle accident. She has left behind a Will for her fiancé, I. In 2015, A mortgaged her interest in the land to Public Bank, paying off her study loan. Six month later, she defaulted her loan repayments and Public Bank is now seeking possession of the shop house with the view to sell it.
advise E,D,B,A,F,I,H and G if they have any interest in the shop house. The likely success of Public Bank application for an order for sale. if the sale is successful, how will the proceeds be divided? would I advice differ if A was declared a bankrupt.

I should say sorry at here if bring anybody in trouble, and I will delete the question within 48 hours, thanks again for someone who can try to help me!

[woofgang]

Divebuddy, I suspect that this is coursework and not a real problem.

[Dogsbody2]

For each individual in turn, you need the consider the impact of their actions and circumstances as it applies to the law of property. For example whether their contribution counts as a stake in the equity, or whether it was merely a loan. There are twiddly bits to consider - the extent to which a minor living in the property has rights of occupation.

Since it's evidently a college question, that's your lot from me.

[Peter Pedant]

Hi Clara
Dive- as helpful as he is has done no Land

First I think you have to decide whether they are joint or tenants in common. It is pretty obvious from the unequal parts that they must be tenants in common - remember that you can sever a jointure by any document xc a will

I think you need a pen and pencil and trace out each history for a to G
and then each paragraph will deal with a's, interest b's inerest and so on

it looks clear as you havent been given a purchase price that you need to review the cases that say the equitable interest is in proportions

A for example only contibutes 30% and then mortgages later than and defaults - so taht is straightforward - it is mortgaging a jointly held property and whether the morrgage is over arching - it aint as far as I can see unless she has told the others...- Beswick comes into this doesnt it ?

C is about transfer of an interest - keys to a jewel box etc and as far as I know she has done nothing about the transfer - and whether you can devise an interest by will.[ you can ].....drag in condition precedent whether or not she has discussed it with the fiance....

OK that starts you

This is course work and a bit of a facer if it is the first one ....
you will have access to a law library on the internet over Xmas so you can do a bit now....

Hey I got a 2:1 in this last year ! OK the person I agreed to help did, because I found equity interesting - oo-er I should get out more !
PS I am not a lawyer .....

anyway that is a start - and yes you bedda arrange deletion
and dont copy and paste anything I have written !

[Peter Pedant]

Oh dogz be christmassy !
think of the first time you had a question like this

oh and if you wanna maul my analysis go ahead
it will probably help [her]

[Peter Pedant]

o god read the question
named as joint owners despite unequal contributions ....
as some point the jointure has to be converted to a commonalty

remember Dyer v Dyer - purchase of house in the name of another automatically creates a trust in favour of the contributor

A bankrupt - if before short para is not allowed to contract and title might vest in the commissioner - if after - the poisiton may be different if A intended to devalue his share in order to defraud creditors

that's it - good luck !
on your course you will get utorials on how to answer qq like these and as you can see it is vital to turn up !

and good luck wwith the rest of the course
everyone finds Land a huge obstacle to be overcome

[clara2015]

thank you Peter!!!!! it is helpful for me^^

[clara2015]

thanks dive, and dogsbody too^^