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Exoneration

Equity of exoneration Indirect benefit Armstrong v Onyearu [2017] EWCA Civ 268 Summary For a benefit to a co-owner/surety to displace the equity of exoneration, it must be direct or closely connected to the secured indebtedness, and must be capable of carrying a financial value. Facts Mr O was the sole registered proprietor of a property that was his matrimonial home with his wife. Following an application for sale of the property by his trustee in bankruptcy a declaration was…

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