The pitfalls of sale and rent back – New Square Chambers

Posted December 3rd, 2014 in fraud, housing, landlord & tenant, loans, mortgages, news, sale of land, Supreme Court by sally

‘The Supreme Court has confirmed the risks of sale and rent back arrangements in Southern Pacific Mortgages Ltd v Scott [2014] UKSC 52. Mrs Scott was the vendor in a sale and rent back. Against her knowledge the purchaser had obtained a mortgage to fund the purchase of her home and defaulted, causing it to be repossessed. She was unsuccessful in arguing that her lease took priority to the mortgage.’

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New Square Chambers, 28th November 2014