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Latest Property News

Property weekly highlights—15 April 2021

The following Property news provides comprehensive and up to date legal information on Property weekly highlights—15 April 2021

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

Court refuses to imply term regarding timescale for service of break notice (Wigan BC v Scullindale Global Ltd)

The following Property Disputes news provides comprehensive and up to date legal information on Court refuses to imply term regarding timescale for service of break notice (Wigan BC v Scullindale Global Ltd)

Restructuring plan meetings convened on tight timetable in face of strong landlord opposition (Re Virgin Active Holdings Ltd)

The following Banking & Finance news provides comprehensive and up to date legal information on Restructuring plan meetings convened on tight timetable in face of strong landlord opposition (Re Virgin Active Holdings Ltd)

Featured Property content

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...

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...

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...

Remedies for breach of restrictive covenants

Damages or injunction — the testThe primary remedy for breach of a restrictive covenant is a permanent injunction to restrain the breach. However, the...

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

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

Applying the proceeds of sale

Sale by a mortgagee destroys the equity of redemption in the mortgaged property. The sale defeats the rights of all subsequent incumbrancers, whose...

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

Template completion statement—sale

An adaptable Word version of this Precedent can be saved, downloaded or printed from this link:Completion statement—saleThis Precedent is a template...

9th Nov

Practice notes

Concurrent and reversionary leases

There can be only one lease at a time giving a right to possession and occupation of property. Consequently, if a landlord subsequently grants a lease...

9th Nov

Practice notes

Rent suspension or cesser

Generally, the tenant remains liable for the rent even though the premises have become unusable. Consequently, leases normally contain a provision...

9th Nov

Practice notes

Completion monies—the SCPCs

How should the money be transmitted?Most contracts relating to commercial property incorporate either the second or third editions of the Standard...

9th Nov

Practice notes

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...

9th Nov

Practice notes

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...

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

Enquiries before contract

Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the COVID-19 outbreak....

9th Nov

Practice notes

Differences—joint insured and noting

Joint insuranceJoint insurance arises where two or more people insure separate insurable interests in the same property with the same insurer under a...

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

Most recent Key developments and horizon scanning content

Practice notes

Break clauses and notices—exercising breaks and conditions precedent

Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been...

16th Apr

COVID-19

Practice notes

Property key future developments tracker

Once a development occurs, it is then moved to the relevant archive:•Property key future developments tracker—2021 archive•Property key future...

16th Apr

Q&As

Where multiple dwellings relief and subsidiary dwellings relief have been applied, and because of the coronavirus (COVID-19) increase to the nil rate band, the amount of stamp duty land tax (SDLT) due is £0, will a buyer still be required to pay 1% of the consideration as SDLT?

Where multiple dwellings relief (MDR) applies to a transaction a buyer can choose whether to claim MDR or pay stamp duty land tax (SDLT) calculated on...

16th Apr

Q&As

Is there any saving provision under the current SDLT holiday rules for a transaction which has exchanged before 31 March 2021 but which completes after that date, due to unforeseen delays ie coronavirus (COVID-19) related?

The temporary increase in the nil rate band for SDLT applies to transactions with an effective date that falls within the period from 8 July 2020...

16th Apr

Q&As

If a section 21 notice is dated and posted on a bank holiday, is it validly served? If so, when will it be deemed served? Does a section 21 notice expire ten months (because of coronavirus (COVID-19)) from the date stated in the notice, ten months from the date it was served or ten months from the effective date of service?

Common law rules of service apply to notices served under section 21 of the Housing Act 1988 (HA 1988) (to seek possession of an assured shorthold...

16th Apr

Practice notes

Property key future developments tracker—2020 archive

Appeal casesWhat happened?When?Find out moreAgreements for lease —whether personalBella Italia Restaurants Ltd v Stane Park Ltd [2019] EWHC 2747 (Ch),...

14th Apr

Practice notes

Coronavirus (COVID-19)—legislation tracker

This Practice Note tracks domestic legislation introduced as part of the UK government’s response to the coronavirus (COVID-19) pandemic. It includes...

14th Apr

COVID-19

Practice notes

Executing documents—deeds and simple contracts

This Practice Note summarises the law, guidance and practice relating to the execution of simple contracts and deeds. It considers the key differences...

13th Apr

COVID-19

In-house

Practice notes

Remote execution of documents in property transactions—virtual and electronic signatures

IntroductionThis Practice Note looks at the use of virtual and electronic signatures in property transactions and considers some of the practical...

13th Apr

COVID-19

Practice notes

Property key future developments tracker—2021 archive

Appeal casesWhat’s happening?When?Find out moreTown and village greensTW Logistics Ltd v Essex County Council [2021] UKSC 4 The Supreme Court handed...

13th Apr

Practice notes

The Upper Tribunal (Lands Chamber)—practice and procedure

FORTHCOMING CHANGE: The Telecommunications Infrastructure (Leasehold Property) Act 2021 (TI(LP)A 2021) came into force on 15 March 2021 for the...

12th Apr

COVID-19

Practice notes

The First-tier Tribunal (Property Chamber)—practice and procedure

FORTHCOMING CHANGE: The Telecommunications Infrastructure (Leasehold Property) Act 2021 (TI(LP)A 2021) came into force on 15 March 2021 for the...

12th Apr

COVID-19

Practice notes

Coronavirus (COVID-19)—implications for property

This Practice Note introduces the key implications that property practitioners should consider in relation to the coronavirus pandemic, including the...

12th Apr

COVID-19

In-house

Practice notes

Coronavirus (COVID-19)—Planning

The impact of Coronavirus (COVID-19) measures on national and local planning services could cause delay in respect of planning applications, publicity...

12th Apr

COVID-19

Practice notes

Coronavirus (COVID-19)—FCA non-damage business interruption insurance test case

Unlike conventional perils such as fire or flood, an outbreak of a virus cannot so easily be located at a particular place and time. The 2020...

Produced in partnership with James Beeton of 12 King's Bench Walk and Cressida Mawdesley-Thomas of 12 King's Bench Walk 9th Apr

COVID-19

Practice notes

Termination and expiry of contracts

This Practice Note provides an overview of contract expiry and of the different causes of termination and ways to discharge a contract, including...

8th Apr

COVID-19

In-house

Practice notes

Powers of attorney in commercial transactions

Commercial lawyers will regularly come across situations where third parties are executing documents as an attorney on behalf of another person and...

8th Apr

COVID-19

In-house

Practice notes

Discharge by frustration

Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also:•Coronavirus (COVID-19) toolkit—Contracts•Coronavirus...

8th Apr

COVID-19

In-house

Practice notes

Force majeure—consequences and contract discharge

Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also:•Coronavirus (COVID-19) toolkit—Contracts•Coronavirus...

8th Apr

COVID-19

Practice notes

Property case tracker—2020 [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained.The Property case tracker is a list of key judgments from 2020 which we consider...

8th Apr