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<h1>Equitable obligation: acquirer must hold property for contract-party's benefit when aware of an enforceable contract to effect specific performance.</h1> If a person acquires property with notice of an existing contract enforceable by specific performance, the acquirer must hold the property for the benefit of the contracting party to the extent necessary to give effect to that contract, thereby creating a constructive trust or beneficial interest in favour of the party entitled to specific performance.