Cases - competing off register interests

Question 1

Perkins v Purea

Answer 1

Facts:
- Daughter living in property
- Paying mortgage and would ultimately get title
- Dad sold the land
Held:
- Daughter had temporal priority
- Nothing done to reverse this priority
- Buyer had constructive knowledge of her interest - out to have made enquiries

Question 2

Emslie v Genuine Investments

Answer 2

Held:
- Presumption of temporal priority displaced
- The actions of the Emslies let GI go out into the world under false colours
- RS got the better title
- Actions are important when discussing competing equities

Question 3

Mercury Geotherm v McLauchlan

Answer 3

Facts:
- M had lease and ROFR over MG’s land
- MG bankrupt and receivers tried to sell land
Held:
- Temperol priority sustained
- No trace of rent
- Had not taken prudent measures to make interest nown
- Waited 3 months to lodge caveat
- BUT most of this due to illness and receivers had constructive knowledge
- Nothing to reverse presumption

Question 4

Australian Guarantee Corporation v CFC Commercial Finance

Answer 4

Held:
- Temperol priority reversed
- AGC first in time but failed to caveat or hold onto paper title.
- But took holistic considerations and awarded AGC the first $54,000