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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

What is a certificate of title?

A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate...

Constructive trusts

Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes...

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...

Practice notes

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...

9th Nov

Practice notes

Standard Commercial Property Conditions (Second Edition)

The second edition of the Standard Commercial Property Conditions came into force on 1 June 2004 and these conditions are incorporated into many...

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

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

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

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

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

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

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

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

Lease variations—surrender and re-grant issues

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...

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

Practice notes

What is a good and marketable title?

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...

9th Nov

Precedents

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...

9th Nov

Most recent Property management content

Practice notes

Direct tax treatment of leases—assignments, surrenders and variations

The direct tax treatment of landlords and tenants in relation to the grant of leases is considered in Practice Note: Direct tax treatment of...

Produced in partnership with Charles Goddard of Rosetta Tax 9th Apr

Practice notes

Ozone-depleting substances—prohibition on using R22 gas

Brexit impact11 pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal...

Produced in partnership with ELM Law 8th Apr

Practice notes

Taking control of goods—process once goods are seized

What is taking control of goods?On 6 April 2014, provisions came into force for the taking control of goods (TCG) in order to sell them to satisfy a...

Produced in partnership with Victoria Jones of Freeths 8th Apr

Practice notes

Taking control of goods—the process up until seizure of goods

This Practice Note sets out the detail of the procedure relating to the taking control of goods either to satisfy commercial rent arrears under the...

Produced in partnership with Victoria Jones of Freeths 8th Apr

Practice notes

Taking control of goods—the schedule 12 TCG procedure

This Practice Note sets out the procedure provided for in Schedule 12 to the Tribunals, Courts and Enforcement Act 2007 for the taking control of...

Produced in partnership with Victoria Jones of Freeths 8th Apr

Practice notes

Service charges in commercial property—summary of the third edition of the service charge code [Archived]

ARCHIVED: The third edition of the Royal Institution of Chartered Surveyors (RICS) Code of Practice ‘Service charges in commercial property’ (and all...

8th Apr

Practice notes

Lease surrenders

What is a lease surrender?A lease surrender is a mutual agreement between the landlord and the tenant that the lease will determine before the end of...

8th Apr

Practice notes

Surrender by operation of law

A surrender by operation of law (or ‘implied surrender’) occurs when the unequivocal conduct of both parties is inconsistent with the continuation of...

8th Apr

Practice notes

Tenant's improvements

The Landlord and Tenant Act 1927 (LTA 1927) allows a tenant to serve notice stating its intention to carry out specified improvements. If the landlord...

8th Apr

Practice notes

Alienation—a tenant’s practical lease negotiation guide

This Practice Note discusses a tenant’s considerations when negotiating alienation provisions in a rack rent commercial lease that is a new lease for...

8th Apr

Practice notes

Commercial service charges—a tenant’s practical lease negotiation guide (Part 1)

Landlord’s service charge objectives The landlord’s main concern is to ensure that the costs of maintenance and repair of the landlord's investment...

8th Apr

Practice notes

Building leases—alienation

A ‘building lease’ is a lease granted in consideration for the tenant erecting a building or carrying out works to existing buildings. When a...

8th Apr

Practice notes

LTA 1954 business lease renewal—termination

STOP PRESS: A 12-month pilot scheme where unopposed lease renewals issued in the Central London County Court (CLCC) are transferred to the First-tier...

8th Apr

COVID-19

In-house

Practice notes

Collateral security—general

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...

8th Apr

Practice notes

CGT—land and leases

Basic principleAn individual works out the gain or loss when land is disposed of in the same way as for other assets. There are some special rules for...

8th Apr

Practice notes

Claims for use and occupation, mesne profits, double rent and double value

This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be...

8th Apr

Practice notes

Alterations—a tenant’s practical lease negotiation guide

This Practice Note discusses a tenant’s considerations when negotiating alteration provisions in a rack rent commercial lease that is a new lease for...

8th Apr

Practice notes