The following Property practice note provides comprehensive and up to date legal information covering:
Certification of practical completion under the agreement for lease (usually prompted by certification of practical completion under the building contract) triggers the tenant’s obligation to start paying rent (subject to any rent-free period). The tenant will therefore want to start trading from the premises as soon as possible after practical completion in order to earn an income from the premises to offset its rent liability. Consequently, it will want to have had early access to the premises before the date of practical completion in order to complete any necessary fit-out works.
Typically, the tenant will want to start fit-out works 4-6 weeks before practical completion, but more extensive and complicated works can take considerably longer and may have to be scheduled far earlier in the build programme. The ability to have early access tends to be high on a tenant’s list of must-haves in relation to any agreement for lease and, ordinarily, early access suits the developer just as much as it does the tenant. However, there are a number of issues that need to be addressed.
If the tenant is to enjoy early access, the developer must be able to deliver it, meaning that the developer must require the building contractor to complete the premises by the date for early access set out in the agreement for lease. Ordinarily, a building contractor
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Fraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the deceived for the Fraud Act 2006
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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