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Subject to any restrictions included by the donor in the LPA, the attorney under a Financial Affairs LPA will be able to do almost anything which the donor could have done for themselves in relation to his or her financial affairs. However, there are limits to the attorney’s power.
Entering into a deed of variation whereby the donor is giving up an interest is akin to the attorney making gifts on behalf of the donor. In general, an attorney has limited power to make gifts of the donor's assets. Gifts that are ‘reasonable’, having regard to the circumstances and the value of the size of the donor's estate, can be made by the attorney to persons (including the attorney) who are related to or connected with the donor on customary occasions (such as a birthday or marriage, for example) or to any charity to which the donor has made gifts in the past or might be expected to
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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.
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
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