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Part IV Priorities, 14 Exceptions to The Nemo Dat Rule

From: The Law of Security and Title-Based Financing (2nd Edition)

Hugh Beale, Michael Bridge, Louise Gullifer, Eva Lomnicka

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From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 18 June 2024

Security interest — Mortgage
14.01 This principle has been well established for a considerable time.1 The person acquiring the legal interest must provide value2 and not have actual or constructive notice3 at the time that the interest was acquired. If, however, the interest, when acquired, was equitable, the holder of the interest can at a later date acquire the legal interest and gain priority over the holder of a prior equitable interest, despite the fact that at the time the legal interest was acquired the holder knew of the prior equitable interest. This is the doctrine of tabula in...
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