Priority, amending and releasing security

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Practice notes
The second edition of the Standard Commercial Property Conditions came into force on 1 June 2004 and these conditions are incorporated into many...
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9th Nov
Practice notes
Official search with priority—registered land or seller’s title pending first registrationHow and when to search?An official search with priority will...
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9th Nov
Practice notes
Consecrated land—Church of EnglandFor the purposes of this section of this Practice Note, consecrated land means any land or building which has been...
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9th Nov
Practice notes
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...
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9th Nov
Precedents
Panel 11 (transfer of whole)/panel 12 (transfer of part)—Additional provisions1Definitions[Lease•the lease particulars of which are set out in...
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9th Nov
Practice notes
Wrongful interference with an easement is a private nuisance. The existence of the easement must be established for a claim to succeed.Not every...
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9th Nov
Practice notes
What is a letter of non-crystallisation?A letter of non-crystallisation is required by a buyer’s/lender’s solicitor to confirm that:•a floating charge...
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9th Nov
Precedents
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...
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9th Nov
Practice notes
Generally, the tenant remains liable for the rent even though the premises have become unusable. Consequently, leases normally contain a provision...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
The implied or deemed surrender and re-grant of a lease arises where an agreed variation of the terms of the original lease is so fundamental that the...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
A good marketable title is shown where a seller is able to deduce a good title to the property he has contracted to sell. The seller is not required...
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9th Nov
Precedents
This Deed is made on [date]Parties1[name of person releasing the covenants] [of [insert address] OR incorporated in England and Wales with company...
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9th Nov
Practice notes
Joint insuranceJoint insurance arises where two or more people insure separate insurable interests in the same property with the same insurer under a...
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9th Nov

Most recent Priority, amending and releasing security content

Practice notes
Registered proprietor of the landWhile the proprietor of a registered estate subject to a registered charge is:•in possession, and•subject to any...
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15th Jan
Practice notes
VariationA registered charge must be varied by deed. The application to register the deed must be made:•in the prescribed form, and•by or with the...
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15th Jan
Practice notes
This Practice Note sets out the process for dealing with the release of security over commercial (as opposed to residential) property and the issues...
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15th Jan
Practice notes
Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written...
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15th Jan
Practice notes
What is a letter of non-crystallisation?A letter of non-crystallisation is required by a buyer’s/lender’s solicitor to confirm that:•a floating charge...
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15th Jan
Practice notes
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor...
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15th Jan
Practice notes
Release of a suretyThe mere fact that a creditor accepts further security from the principal debtor does not release a surety. A release of the...
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15th Jan
Practice notes
Priority follows the order of registrationRegistered charges on the same registered estate will rank between themselves in the order in which they...
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12th Jan
Precedents
[ON HEADED NOTEPAPER OF CHARGEE][insert the name and address of the buyer/ second lender][insert date]Dear [insert organisation name],[Debenture OR...
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12th Jan
Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
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12th Jan
Q&As
A legal charge that has been registered against a title at HM Land Registry must be discharged by the use of form DS1 (Land Registration Rules 2003...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 8th Jan
Practice notes
When/why would a lender or a borrower want to substitute security in a real estate finance (REF) transaction?The reasons why a lender or a borrower...
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Produced in partnership with Oliver Ellington of CMS 8th Jan
Practice notes
The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...
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4th Dec
Q&As
The correct form to use in these circumstances is set out in HM Land Registry Practice Guide 31—Discharge of charges as follows:‘A release of part of...
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29th Nov
Q&As
We do not have a deed of postponement of a charge (often called a deed of priority) within Lexis®PSL. However, we can refer you to the following...
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29th Nov

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