Corporate and structured property transactions

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Latest Property News

Agency—undisclosed commission—recission—whether fiduciary relationship required (Wood v Commercial First Business)

The following Banking & Finance news provides comprehensive and up to date legal information on Agency—undisclosed commission—recission—whether fiduciary relationship required (Wood v Commercial First Business)

Appointment of administrator pending suit following difficulties financing former family home (Ugolor v Ugolor)

The following Private Client news provides comprehensive and up to date legal information on Appointment of administrator pending suit following difficulties financing former family home (Ugolor v Ugolor)

Property weekly highlights—8 April 2021

The following Property news provides comprehensive and up to date legal information on Property weekly highlights—8 April 2021

New permitted development rights for changes of use and expansion of public service infrastructure in England, as part of a package of measures to revitalise high streets

Featured Property content

Title guarantee and covenants for title

On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title...

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...

Authorised guarantee agreements

What is an authorised guarantee agreement (AGA)?Under an authorised guarantee agreement (AGA), an outgoing tenant guarantees some or all of the...

Benevolent funds

A benevolent fund is an institution, including a body of trustees, which holds funds on trust for the purpose of relieving poverty amongst a defined...

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

Tacit relocation in commercial leases in Scotland

In Scotland, at common law, a lease does not actually end on the specified expiry date (ish) unless:•either party gives correct and timeous...

Produced in partnership with Kenneth S Gerber of Mitchells Roberton 12th Jan

Scottish Law

Practice notes

Headline rents

What is a headline rent?In a falling market, landlords frequently offer tenants financial inducements to take a lease in order to maintain the level...

9th Nov

Precedents

Specific clauses for transfers—indemnity covenant

Panel 11 (transfer of whole)/panel 12 (transfer of part)—Additional provisions1Definitions[Lease•the lease particulars of which are set out in...

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

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

Practice notes

Letter/certificate of non-crystallisation in property transactions

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...

9th Nov

Practice notes

Guide to reviewing certificate of title

Coronavirus (COVID-19): The requirements to obtain an EPC before a property is sold or let can be difficult to satisfy when social distancing measures...

9th Nov

Practice notes

Fixtures and fittings

When transferring an interest in land, any fixtures form part of the land and are transferred with it, unless there is express provision to the...

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

Q&As

Section 58 of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) automatically transfers any existing mortgages on a leasehold title when the lease is extended under LRHUDA 1993. Therefore it is not necessary to obtain the mortgage company's consent to the lease extension. However, if there is a mortgage on the landlord's title, does the landlord need to obtain consent or does LRHUDA 1993, s 58 also render obtaining consent unnecessary?

Section 58 of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) governs the position in respect of mortgages both of the...

Produced in partnership with Chris Bryden of 4 King’s Bench Walk 12th Jan

Practice notes

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...

9th Nov

Practice notes

Conditional contracts—property

Contracts are often drafted on the basis that a condition or conditions must be satisfied before completion takes place (a condition precedent)....

9th Nov

Precedents

Disclosable overriding interests questionnaire

You are applying for registration of [insert details of property] at HM Land Registry and as part of that application you must disclose any overriding...

9th Nov

Practice notes

Double funding

Brexit: The UK left the EU on 31 January 2020. This has implications for the schemes providing for agricultural subsidies in England and Wales, which...

9th Nov

Practice notes

Sub-sales and assignments

A sub-sale is where A contracts to sell a property to B but, before completing the purchase from A, B then contracts to sell the property to C. There...

9th Nov

Most recent Corporate and structured property transactions content

Practice notes

CRC Initial Phase (Phase 2)—issues in corporate transactions

The CRC Energy Efficiency SchemeThe CRC Energy Efficiency Scheme (CRC Scheme) was a mandatory UK-wide emissions trading scheme in the UK that aimed to...

Produced in partnership with Angus Evers of Shoosmiths 9th Apr

Precedents

Board minutes—corporate real estate joint venture—exchange—shareholder

COMPANY NUMBER: [insert company number] [insert company name] limitedMinutes of a meeting of the board of directors (the Meeting) of [insert full name...

9th Apr

Precedents

Board minutes—corporate real estate joint venture—completion—joint venture company

Company number: [insert company number][insert company name] LimitedMinutes of a meeting of the board of directors (the Meeting) of [insert full name...

9th Apr

Precedents

Board minutes—corporate real estate joint venture—completion—shareholder

company number: [insert company number][insert company name] LimitedMinutes of a meeting of the board of directors (the Meeting) of [insert full name...

9th Apr

Precedents

Board minutes—corporate real estate joint venture—exchange—joint venture company

Company number: [insert company number][insert company name] LimitedMinutes of a meeting of the board of directors (the Meeting)of [insert full name...

9th Apr

Practice notes

SDLT and partnerships—general principles and ordinary transactions

This Practice Note sets out the general treatment of partnerships for stamp duty land tax (SDLT) purposes, including what amounts to a partnership for...

Produced in partnership with Kevin Griffin 9th Apr

Practice notes

Vehicles for property development and investment—VAT implications

This Practice Note is about the VAT treatment of partnerships, joint ventures and other entities in the context of property development and...

Produced in partnership with Martin Scammell 9th Apr

Practice notes

SDLT and property investment partnerships

This Practice Note sets out the specific stamp duty land tax (SDLT) rules which apply to property investment partnerships (PIPs). It explains the...

Produced in partnership with Kevin Griffin 9th Apr

Practice notes

SDLT and partnerships—transfers from a partnership

This Practice Note explains the special stamp duty land tax (SDLT) rules which apply when an interest in land is transferred from a partnership to a...

9th Apr

Practice notes

Property authorised investment funds (PAIFs)—summary

The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...

Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 9th Apr

Practice notes

SDLT and partnerships—transfers to a partnership

This Practice Note explains the special stamp duty land tax (SDLT) rules which apply when an interest in land is transferred to a partnership from one...

9th Apr

Practice notes

SDLT and partnerships—anti-avoidance and reliefs

This Practice Note gives details of stamp duty land tax (SDLT) anti-avoidance rules and SDLT reliefs which apply specifically to transactions of...

Produced in partnership with Kevin Griffin 9th Apr

Practice notes

Key UK tax issues arising on the sale and purchase of an SPV owning UK commercial property

Tax is a key consideration when selecting an appropriate structure for holding UK commercial property. The most common form of investment in UK...

Produced in partnership with James Meakin of Dentons 9th Apr

Practice notes

Urban regeneration and development agreements

Brexit impact—public procurementThe UK public procurement regime derives from EU public procurement laws, and is therefore impacted by the UK’s...

9th Apr

Practice notes

Guernsey trusts

For general information on Guernsey, see Practice Note: Private Client jurisdictional guide—Guernsey.Guernsey as a trust jurisdictionWhilst there are...

Produced in partnership with Gavin Ferguson of Ogier 9th Apr

Practice notes

Getting the Deal Through: Real Estate 2021

Jurisdictions coveredThe following jurisdictions are covered in this report:Australia; Austria; Finland; Germany; India; Indonesia; Ireland; Japan;...

9th Apr

Practice notes