Jurisdiction(s):
United Kingdom

NRAM v Evans: Voidable dispositions not mistakes under LRA 2002; register updated not rectified; no priority backdating or Schedule 8 indemnity (England and Wales)

Published on: 20 July 2017

Published by a LexisNexis Property expert

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Original news

In NRAM v Evans [2015] EWHC 1543 (Ch), the court directed the rectification of an inadvertent discharge of a mortgage. The proceedings centred on whether a 2005 loan, advanced by NRAM’s predecessor to Mr and Mrs Evans, was secured over their property. The key issue was whether a 2004 charge, which had secured an earlier loan to the borrowers, who were subsequently made bankrupt, was effective to cover the 2005 advance.

The High Court held that, on its terms, the 2004 charge did secure the 2005 loan against the property. The mortgage conditions attaching to the 2004 charge were sufficiently broad and unambiguous to include the 2005 borrowing. Upon the borrowers’ bankruptcy, their estate vested in the Official Receiver as trustee, but remained subject to the bank’s charge.

It was also found that the bank had made a distinct mistake by submitting form e-DS1 to HM Land Registry, acknowledging that the property was no longer charged, in circumstances where the 2004 loan alone had been redeemed. Consequently, the registrar should rectify the register, and the bank is entitled to be re-registered as proprietor of the 2004 charge...

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