Q&As

Should the payment of a reverse premium on the assignment of a lease be documented?

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Published on: 29 March 2018
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The reverse premium must be documented otherwise B will not be contractually entitled to receive the payment.

If the property is registered, the assignment will be effected with a TR1. Box 8 of the TR1 deals with the consideration payable. Tick the third box (insert other receipt as appropriate) and insert wording along the lines of:

‘The transferee has received from the transferor

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United Kingdom
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