Heid v Reliance Finance (1983) 154 CLR 326

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  • Heid sold land to an investment company for $165,000
  • $50,000 was secured by a mortgage back to Heid
  • He did not register this mortgage
  • The title and documents were given to the purchaser
  • The purchaser executed a mortgage to the finance company who registered the transfer but not the mortgage
  • Who had the better equitable interest?
  • The finance company because Heid had armed the purchaser by not registering the interest

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