The following Property Q&A provides comprehensive and up to date legal information covering:
For the purpose of this Q&A we have assumed that the land is registered and that both parties are registered as joint owners on the legal title.
Section 283 of the Insolvency Act 1986 (IA 1986) defines the bankrupt's estate as any property which either belonged to the bankrupt or in which the bankrupt had an interest at the date the bankruptcy order was made.
IA 1986, s 436 provides a wide definition of property as:
‘money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property.’
IA 1986, s 283(3)(a), however, specifically excludes property owned by the bankrupt on trust.
Normally when a bankruptcy order in made, the bankrupt's property vests in the Official Receiver, however pro
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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