What is the ratio in Abbey National v Cann?

A beneficial interest that arises at the same time as or after a registered charge cannot constitute an overriding interest binding on the chargee.

What did the court decide in Abbey National v Cann?

Mrs Cann's beneficial interest did not bind Abbey National as her interest arose simultaneously with their mortgage.

It establishes crucial timing requirements for overriding interests and protects mortgagees in purchase transactions.

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