What is an authorised guarantee agreement (AGA)? Under an AGA an outgoing tenant guarantees some or all of the obligations of an incoming tenant under a lease. It was...
Background—Landlord and Tenant (Covenants) Act 1995 Landlord and Tenant (Covenants) Act 1995, s 5(2)(a) provides that if: 'a tenant assigns the whole of the premises...
The advantages of taking collateral security from a third party to secure the principal debt are that: • the mortgagee may not need to have recourse to the primary...
This Practice Note details the deadlines for carrying out some of the more common tasks for property disputes lawyers, together with links to further information. It is...
The Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) controls the liability of former tenants and their guarantors for rent and service charge after assignment of a...
In Powerhouse, parent company guarantees were given in respect of a number of high street stores and supermarkets in the UK. The tenant company subsequently decided to...
Rectification is an equitable remedy by which the court can correct an error of expression where a written document does not match the parties' intention. It is available...
What is a rent guarantee? A rent guarantee is an incentive offered by the seller of an investment property which has empty premises (eg an empty floor in an office block...
Undue influence arises where the transaction is to the manifest disadvantage of the person subjected to the dominating influence. It is the abuse of a relationship of...
Losing guarantee covenants At any point in the economic cycle landlords will want to protect themselves against tenant default, particularly in the case of potentially...