Land law
Order Description
A professional UK WRITER to write the coursework NOT USA. This coursework has to be writen in Oscola and it is 1800 words. THE COURSEWORK SCENARIO IS AS FOLLOWS;
Carol has sought your advice on several matters:
First, her ex-partner, James is the legal owner of ‘Green Acres’ in Prestown. This is a registered freehold property and James is the sole registered proprietor. When Green Acres was purchased, seven years ago, Carol recalls that James, a business man and property dealer, said that his bank would not like it if the property was not in his sole name. He told Carol that the property would ‘belong to both of them’ and Carol trusted James. She also recalls that when contracts were exchanged to purchase Green Acres, she obtained the loan of keys from the seller and spent a week using her skills as an interior-designer to completely refurbish Green Acres and move in their belongings before the completion of the purchase, in 2009. Carol provided half the purchase price of Green Acres and James provided the remainder (by borrowing it from Prestown Bank). The Bank still has a first mortgage on Green Acres, equal to half its value. Also, last year, as James ran into financial difficulties, he granted a second mortgage on Green Acres to Loancaster Building Society, also equal to about half the value of the property (so leaving his combined debt to the two mortgagees equal to the value of Green Acres). At the time of the second mortgage, Carol was spending less time at Green Acres, as her own business was developing in London. During this period, she stayed over frequently in London, though she still regarded Green Acres as her home and most of her belongings were there. Carol says she was not aware of the existence of either of the mortgages on Green Acres, until James recently told her about them. James says that due to problems he has encountered in paying the mortgage debt to Loancaster Building Society, it is now seeking to repossess and sell Green Acres. James understands that half the sale proceeds will be claimed by Prestown Bank and the other half by Loancaster Building Society. James has no other assets or funds.
Second, Carol and her current partner, Tim, have just purchased a property called Fisher Cottage by the Thames in London. On completion of the purchase, Carol was disappointed to discover that certain items had apparently been removed by the seller. One item was the heavy, marble sculpture of a fisherman which had rested on a concrete base protruding into the large fishpond that is the focal point of the back garden. Another item was a pair of large, ornate, metal, outside lanterns which had been attached to the front wall of the house. The lanterns had been unbolted from the wall and the electrical wires supplying them had been cut and left exposed. Carol remembers that both the sculpture and the lanterns were still at the property, when she visited the property after exchange of contracts.
Third, last week, while visiting a stately home near their new property, Carol and Tim noticed several coins on the mud by the river running through the extensive grounds. Apparently the coins had been left exposed by recent flooding. They took the coins home and, later, showed them to an archeologist friend, who told them that the coins were 16th Century and of considerable value. Carol has since noticed that on the back page of a history of the Estate they bought when leaving the stately home, it states that any items found by visitors will be the property of the owners of the home.
Carol seeks your advice as to whether she has any priority over the mortgagees of Green Acres in relation to her contribution to the purchase of Green Acres; whether she and Tim have any right to the return of, or compensation for the removal of the lanterns and sculpture from Fisher Cottage; and whether they are entitled to keep the coins they found.
Advise Carol.