Q&As

Is a deed of assignment of a rent deposit deed appropriate when a landlord sells the freehold?

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Published on LexisPSL on 06/06/2017

The following Property Q&A provides comprehensive and up to date legal information covering:

  • Is a deed of assignment of a rent deposit deed appropriate when a landlord sells the freehold?
  • New tenancies
  • Old tenancies
  • Effect of clause 11.1 (Rent deposit deed—trust)

Is a deed of assignment of a rent deposit deed appropriate when a landlord sells the freehold?

Many rent deposit deeds will contain provisions dealing with a change of landlord. Such provisions will typically allow the landlord to assign the benefit of the deed to the buyer on a sale of the landlord’s reversionary interest, subject to the buyer covenanting with the tenant (with effect from the date of the assignment of the reversion) to:

  1. hold the deposit in accordance with the terms of the deed, and

  2. perform and observe the landlord’s obligations in the deed as if the buyer had been named as the landlord in the deed

Such

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