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Priority in Sale and Leaseback: Article by Mark West

In this article Mark West considers the recent decision of the Supreme Court in Scott v. Southern Pacific Mortgages Ltd [2014] UKSC 52 which concerned the question of priorities in the unregulated sale and leaseback market. In particular (1) where the purchasers were in a position at the date of exchange of contracts to confer equitable proprietary rights on the vendors, as opposed to personal rights only (2) (on which the Court was divided) even if the equitable rights of the vendors were more than merely personal rights, did the rationale of the decision of the House of Lords in Abbey National Building Society v Cann apply.

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