Real right definition

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Landlord consent to assignation—Scotland—checklist

Landlord consent to assignation—Scotland—checklist This Checklist sets out the issues that should be considered by a tenant (assignor) of a commercial lease in Scotland. It sets out when landlord consent to assignation is required, whether the landlord is obliged to act reasonably in granting such consent, the form of the consent and assignation and issues that both parties and the assignee should consider in relation to the landlord letter of consent to assignation and the assignation itself. Assignation transfers to the assignee the tenant's (assignor’s) interest in the lease from an agreed date until the termination of the lease. It entitles the assignee to possess the premises on the same terms as the assignor, see: Nature of assignation: Stair's Laws of Scotland (Stair Memorial Encyclopaedia) [290]. A style letter of consent to assignation and a style assignation can be found at the Property Standardisation Group (PSG): PSG Leases—Management Documentation. Must the assignation be in writing? From 1 August 1995, a written document subscribed to by the assignor is required for...

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The insolvency process in Scotland—impact on the landlord and tenant—commercial leases

The insolvency process in Scotland—impact on the landlord and tenant—commercial leases What effect does insolvency have on the operation of a lease? This Practice Note seeks to answer that question and address to some of the most common concerns which may arise on the introduction of an insolvency practitioner (IP) to the landlord and tenant relationship in relation to commercial premises. Types of Insolvency Process It should be noted that the insolvency process depends on where the tenant is located (eg its registered office in the case of a corporate entity) and not the location of the leased premises. For the purposes of this Practice Note, it is assumed that both the landlord and tenant are based in Scotland and that the lease is governed by Scots law. The main formal insolvency processes in Scotland are set out below. Corporate Administration Administration is a process that operates to provide a framework for the rescue of an insolvent company. An administrator will be appointed and, while the company continues to exist,...

Glossary of Scottish Private Client words and expressions

Glossary of Scottish Private Client words and expressions This is a glossary of common words and expressions used in Scottish Private Client law with the nearest England and Wales equivalent (where relevant) and links to useful websites. Ab intestato Meaning Nearest English equivalent From a person dying intestate; description of property acquired according to the rules of intestate succession. None Action of specific implement Meaning Nearest English equivalent An action which requires the court to grant an order requiring a party to perform a specific act. In Scotland, there is no distinction between equitable and legal remedies as there is in England and Wales. Specific performance (an equitable remedy available for breach of contract that may be granted in addition to or instead of damages) Advance notice Meaning Nearest English equivalent A notice (registered in the relevant property register) to protect the grantee of a deed intended to be registered in the Land Register of Scotland. The 35-day protected period starts on the day...