Podcast Location:
Download it here [file size: 32.8 MB]
Categories:
Residential Property
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to inform listeners about the rules of equitable accounting. It will address the rationale for such a practice and the extent to which expenditure by an occupying co-owner can adjust the eventual share of the sale proceeds in the property. It will also address what credit can be given to a co-owner who has been excluded from the property and how the added complexity of bankruptcy affects rights of each co-habitant. Attention is also given to the impact made by the case of Stack v Dowden and the provisions of the Trusts of Land and Appointment of Trustees Act 1996 in this area.

Outcomes:
After completing the course you will:
  • Understand the rationale behind the practice known as ‘equitable accounting’;
  • Understand where equitable accounting sits in a wider dispute about the ownership of property;
  • Understand what expenditure is relevant for the purposes of calculating an account;
  • Understand the relationship between the payment of a mortgage and the right of an excluded owner to claim an occupational rent;
  • Understand how Stack v Dowden [2007] and TOLATA 1996 impact upon the taking of an account;
  • Be aware of the different dynamic in any account within the context of insolvency.
Level:
Complex Difficulty: 4 of 5
Classification:
Legal Principles
Sources and References:
  • Murphy v Gooch [2007] EWCA Civ 603;
  • French v Barcham [2008] EWHC 1505 (Ch);
  • Re Gorman (A Bankrupt) [1990] 1 WLR 616;
  • Jones v Jones [1977] 1 WLR 438;
  • Byford v Butler [2003] EWHC 1267 (Ch);
  • Trust of Land and Appointment of Trustees Act 1996 ss12-15;
  • Wilcox v Tait [2006] EWCA Civ 1867;
  • Re Pavlou [1993] 1 WLR 1046:;
  • Leake v Bruzzi [1974] 1 WLR 1528;
  • Dennis v McDonald [1981] 1 WLR 810;
  • Stack v Dowden [2007] UKHL 17.
Tags:

This podcast discusses the practice known as ‘equitable accounting’ that may follow disputes about the equitable rights in real property. The rules of equitable accounting came under revision following the House of Lords case of Stack v Dowden. James Sheedy will address what equitable accounting is and how it can adjust the cash sum beneficiaries receive from the sale proceeds of a jointly owned property.

Podcast added: 09/09/10

Podcast last reviewed: 2012-02-27

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