The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This Practice Note provides an overview of a typical real estate finance (REF) transaction from the term sheet stage through to signing the financing documents, dealing with conditions precedent and, if a default should arise, enforcement of the Lender's security. At each stage, this Practice Note provides links through to Practice Notes and Precedents which provide more detailed information on each topic.
A useful guide to a general bilateral finance transaction can be found in the Loan transaction toolkit. For specific information on the key points to consider when entering into a real estate finance transaction, see: Real estate finance—checklist.
Lending against the cash flow generated by a property is the most common form of real estate finance. In its simplest form, it involves a loan to a borrower which is repaid from the rental income of the borrower’s property. For more information, see Practice Note: Introduction to real estate finance—the lending structure.
Real estate finance transactions are either investment finance transactions or development finance transactions, depending on whether the property is being purchased as an investment or whether the property is being purchased to be developed. For more information, see Practice Notes:
Real estate finance—investment facilities—key features, and
Real estate finance—development facilities—key features
In a real estate finance transaction, the main asset of value is the property owned by the
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When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
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
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
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