Lloyds TSB Bank plc v Markandan & Uddin (a firm) – WLR Daily

Posted February 13th, 2012 in law reports, sale of land, sham transactions, solicitors, trusts by sally

Lloyds TSB Bank plc v Markandan & Uddin (a firm) [2012] EWCA Civ 65a; [2012] WLR (D) 29

“The completion of sale of land and mortgage did not become effective until all executed title documents including mortgage loan agreement and deed in the name of the purchasers or an effective undertaking from the purchaser’s real solicitor or agent to exchange the documents were received by the vendor or his agent. Therefore, a solicitor who had parted with the money entrusted to him by the lender to a purchaser’s fictitious solicitor in exchange for a purported undertaking from the bogus solicitor to exchange and forward those documents committed a breach of trust.”

WLR Daily, 9th February 2012

Source: www.iclr.co.uk