Question: "Immunity from pre-existing equitable rights was thus guaranteed only in the case of the purchaser of a legal estate whose conscience was wholly unaffected. Such a purchaser was sometimes known simply as 'Equity's Darling' – one who has found favour in the eyes of equity"
Kevin Gray (Elements of Land Law)
Assess the accuracy of the above statement.
Answer: Since the establishment of a court of conscience in Chancery during the late 19th century the distinction between legal and equitable proprietary interests are as follows. Legal interests are considered binding on and enforceable against the whole world thereby being a right in rem. Equitable interests however, are not automatically binding upon anyone given that there are two exceptions with equitable rights. If one can prove that they are the bona fide purchaser (BFP) of a legal estate for value without notice then this type of purchaser would take the land free from the equitable interest. This is the immunity Kevin Gray is referring to in the above quote as ‘equity’s darling’ is free from the jurisdiction of any court in Chancery. This exemption is known as the doctrine of notice......(short extract)
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Details: - Mark: 68% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 1705 | References: Yes | Date written: September, 2010 | Date submitted: April 30, 2011 | Coursework ID: 683
