ABSTRACT
On the date that a specifically enforceable contract for the sale of land is made, the purchaser becomes the equitable owner of the property. Thus, on the date of the exchange of contracts the vendor becomes a constructive trustee for the purchaser until the date of the completion of the sale, see Lysaght v Edwards.45 Edwards agreed in writing to sell real property to the plaintiff but before completion, Edwards died. By his will, he devised his real property to trustees on trust to sell and invest and invest the proceeds of sale. On a claim by the plaintiff for an order requiring the executors to complete the sale.
