COMMON LAW 219
But land is conveyed to A and not to A and his heirs. Consequently the legal right of A vanishes at his death. As A’s legal right vanishes so does B’s equitable right.
An equitable interest cannot survive the legal interest out of which it flows, (1914) i Ch. 300
(ii) Equitable right will be affected by all the infirmities attaching to the legal right.
A died intestate leaving B and C as his sons, B being the eldest.
B being away C takes possession and transfers it to D for the use of his wife E.
B returns and claims the property. The legal tide of D comes to an end by reason of the flaw in C’s title.
The equitable estate of E, the wife of C, also comes to an end.
III . The third difference between a Legal Right and an Equitable Right is that, a legal right may be a right in rem or may be a right in personam. But an equitable right is always a right in personam. Who is bound to respect the right of an Equitable owner ? Not the world but the legal owner and no one else.
It is true, the legal owner, who is bound, is not the legal owner against whom the equitable right first arose but includes also every legal owner to whom the right is transferred.
All the same the proposition stands that an Equitable Right is a right in personam which binds only the legal owner.
Explain,
“Equitable rights have a resemblance to rights in rem.”
(i) It is true that Equitable Rights have a resemblance to rights in rem.
(ii) How does this resemblance arise ?
(i) An equitable right will be enforced not only against the owner of legal right but it will be enforced against :—
(a) his representatives and volunteers claiming through or under him,
(b) persons who acquire the legal right
(i) with the knowledge of the legal right,
(ii) against those who could have had knowledge.
(iii) The standard of knowledge set up by the Court of Chancery was so high that no one could escape and every purchaser was bound.