487. Seller's lien.

The seller has an equitable lien over the property (and the title deeds if in his possession) which arises on exchange of contracts and endures until the purchase price is paid in full1. If part of the purchase price is paid on completion the lien is discharged as to that part but continues in force as to the remainder2.

If the seller is not in possession of the property, to be enforceable, the lien must be protected by registration as a notice on the register of title of registered land or as a class C(iii) land charge where the land