Parker-Tweedale v Dunbar Bank Plc (No 1) [1991]

Facts

  • Following the default of a mortgagor on payments of a £164,000 mortgage loan, the mortgagee took possession in order to sell the property
  • The mortgage and house was in the wife’s sole name; her husband was a licensee only
  • The property was valued at £380,000 – £450,000, and sold for £575,000, with the wife’s consent
  • The purchaser re-sold the property within a week for £700,000

Issue

  • Was the bank in breach of duty to the husband for not obtaining a proper price?

Decision

  • No

Reasoning

  • A mortgagee in possession owed duties under sale only to their mortgagor (the wife), and not other beneficiaries to the sale
RELATED CASE  Barclays Bank v O'Brien [1994]

Posted in Land Law Revision Notes.

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