The following Property Q&A Produced in partnership with Carl Fain of Tanfield Chambers provides comprehensive and up to date legal information covering:
For the purpose of this Q&A we assume that the tenant is a long leaseholder of a flat. Sinking funds are very useful tools for the landlord in paying for capital expenditure. If managed correctly, they can also be of benefit/value to the tenant because it will spread the cost of capital expenditure rather than a nasty large bill being demanded when the works are due to be carried out. Often well-advised purchasers will ask whether there is a reserve or sinking fund in place and this can add value to the leas
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This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
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The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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