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The Law Commission’s recommendations for updating for the Land Registration Act 2002—thoughts on the government response

The following Banking & Finance news provides comprehensive and up to date legal information on The Law Commission’s recommendations for updating for the Land Registration Act 2002—thoughts on the government response

Property weekly highlights—13 May 2021

The following Property news provides comprehensive and up to date legal information on Property weekly highlights—13 May 2021

Refusal of consent under covenant on aesthetic grounds was reasonable (Hicks v 89 Holland Park Management Ltd)

The following Property Disputes news provides comprehensive and up to date legal information on Refusal of consent under covenant on aesthetic grounds was reasonable (Hicks v 89 Holland Park Management Ltd)

Amendments to the prescribed notice seeking possession in Form 3 (section 8 notice)—implications for practitioners

The following Property Disputes news provides comprehensive and up to date legal information on Amendments to the prescribed notice seeking possession in Form 3 (section 8 notice)—implications for practitioners

Featured Property content

Landlord’s Section 45 Counter—notice to Tenant s 42 Notice

Under s 45 Leasehold Reform Housing and Urban Development Act 1993 (the ‘1993 Act’)Flat:[insert address and description of the Property]To:[insert...

Easements—nature and characteristics

Nature of an easementAn easement is an incorporeal right enjoyed by the owner of a legal estate (dominant tenement) over land in the ownership of...

A review of Standard Commercial Property Conditions (Third Edition) and practical tips

The Third EditionThe third edition of the Standard Commercial Property Conditions was published on 27 April 2017. It is an update to Standard...

Insolvency—fixed charge receivership

Effect of appointmentA fixed charge receiver is appointed under a legal charge or mortgage and only has power to deal with and dispose of the charged...

Precedents

Transfer of part

Transfer of partPrecedent transferAn adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link:Drafting...

9th Nov

Precedents

Grant of a right for overhanging eaves

1 The Grantor grants to the Grantee the right for the Grantee and his successors in title as owners or occupiers for the time being of...

9th Nov

Practice notes

Oversailing

TrespassTrespass is the unlawful presence of a person on land in the possession of another. The ownership of land includes the airspace above it....

9th Nov

Precedents

Deed of grant of easements

This Deed is made on [insert date]PARTIES1[insert name of the owner of the Servient Land] [ of [insert address] OR incorporated in England and Wales...

9th Nov

Precedents

Rent authority letter—commercial property

[To be printed on Landlord’s letterheaded paper]Our Ref:Date:To: [insert name of Tenant]From: [insert name of previous Landlord] [of [insert address]...

9th Nov

Practice notes

The ‘ad medium filum’ rule

The ‘ad medium filum’ rule is a rebuttable presumption that an owner of land which abuts either:•a public or private highway, or•a non-tidal river or...

9th Nov

Practice notes

Derogation from grant and the covenant for quiet enjoyment

The rule against derogation from grant applies in addition to any obligation of quiet enjoyment. It is not excluded by an express covenant for quiet...

9th Nov

Practice notes

Without prejudice and subject to contract

Subject to contractIf a party who strikes a bargain wishes to make it clear that it does not intend to enter into a binding contract until a formal...

9th Nov

Practice notes

Rent deposit deeds—common structures

What is a rent deposit?A rent deposit is a sum of money that is deposited by a tenant when it takes a lease of premises as security against the...

9th Nov

Practice notes

Pre-completion searches

Official search with priority—registered land or seller’s title pending first registrationHow and when to search?An official search with priority will...

9th Nov

Practice notes

Underletting at less than the passing or market rent

When property markets suffer a downturn, commercial tenants with properties that are surplus to requirements face significant difficulties in...

9th Nov

Practice notes

Manorial rights

Manorial rights are relics of the feudal system of land tenure. They can still exist in relation to land that:•is former copyhold land, or•was...

9th Nov

Practice notes

Equitable mortgages and equitable charges—general principles and registered land

Nature of mortgages and chargesMortgages and charges are distinct forms of security. A mortgage can be legal or equitable and involves the transfer of...

9th Nov

Practice notes

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive...

9th Nov

Practice notes

The equity of redemption

Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor...

9th Nov

Practice notes

Overreaching—sales by trustees of land

Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely...

9th Nov

Most recent Commercial real estate finance content

Practice notes

The finance parties

The finance partiesThis Practice Note considers the key finance parties involved in a syndicated loan arrangement or syndicated loan facility. It...

13th May

Practice notes

Contaminated land—who may be liable?

Contaminated land—who may be liable?Who may be liable?Anyone who is an 'appropriate person' may be liable for remediation of contaminated land under...

13th May

Practice notes

Formalities where an overseas company is buying, selling or leasing land in England and Wales

Formalities where an overseas company is buying, selling or leasing land in England and WalesThe fact that an overseas company is a seller, buyer,...

13th May

Practice notes

Legal opinions—property transactions

Legal opinions—property transactionsA legal opinion should be obtained in respect of any property transaction in England and Wales entered into with...

13th May

Practice notes

CRC Initial Phase (Phase 2)—issues in finance transactions [Archived]

CRC Initial Phase (Phase 2)—issues in finance transactions [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.The CRC...

13th May

Practice notes

Banking and finance—environmental due diligence and practical ways for lenders to mitigate environmental risks

Banking and finance—environmental due diligence and practical ways for lenders to mitigate environmental risksWhy are lenders concerned about...

12th May

Precedents

Long form property management agreement

dated [date]parties1[name of the Company] [of OR incorporated in England and Wales with Company registration number [number] whose registered office...

7th May

Precedents

Short form property management agreement

This agreement is made the [insert date] day of [insert month and year] Between [owners of property] of [insert address] (the ‘Owners’) and [managing...

7th May

Precedents

Deed of assignment—construction projects

DateParties1[insert name] (Company Registration No. [insert number]) whose registered office is at [insert address] (the "Assignor")2[insert name]...

5th May

Practice notes

Real estate finance—financial covenants

For real estate finance lenders, understanding the financial health of the property and the borrower is critical. In a typical real estate finance...

4th May

Practice notes

Assignment of a collateral warranty

This Practice Note focuses on the assignment of collateral warranties (see Practice Note: What are collateral warranties?). For more detailed guidance...

29th Apr

Practice notes

Structure of a facility agreement for construction projects

What is a facility agreement?Many construction projects, particularly larger ones, require external funding from banks or other lenders to finance...

29th Apr

Practice notes

Taking security over insurance policies

Rights under insurance policies are a type of contractual right.Lenders can take security over insurance policies by an assignment by way of security....

27th Apr

Practice notes

Key issues in taking a guarantee from an individual

Coronavirus (COVID-19):•The Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business...

27th Apr

Practice notes

Taking security over contractual rights

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

26th Apr

Practice notes

Registering security at Companies House

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

26th Apr

Practice notes

UK REITs—taxation of the REIT and shareholders

FORTHCOMING CHANGE: As part of review of the UK funds regime and in particular, a consultation on the tax treatment of asset holding companies, the...

Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 21st Apr

Practice notes

UK real estate investment trusts (REITs)—summary

FORTHCOMING CHANGE: As part of review of the UK funds regime and in particular, a consultation on the tax treatment of asset holding companies, the...

Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 21st Apr

Precedents

Board minutes for the approval of a company’s entry into loan and security documents

COMPANY NUMBER: [insert company number][insert company name] [LIMITED OR PLC]Minutes of a meeting of the board of directors (the Meeting) of [insert...

20th Apr

Precedents