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Assignment and underletting

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Latest Property News

TR1 declaration of trust—absence of agreement insufficient for rectification (Ralph v Ralph)

TR1 declaration of trust—absence of agreement insufficient for rectification (Ralph v Ralph)

The following Dispute Resolution news provides comprehensive and up to date legal information on TR1 declaration of trust—absence of agreement insufficient for rectification (Ralph v Ralph)

Questions around the proposed arbitration process for coronavirus rent arrears

Questions around the proposed arbitration process for coronavirus rent arrears

The following Banking & Finance news provides comprehensive and up to date legal information on Questions around the proposed arbitration process for coronavirus rent arrears

Discharge of restrictive covenant—original contracting parties (Father's Field Development Ltd v Namulas Pension Trustees Ltd)

Discharge of restrictive covenant—original contracting parties (Father's Field Development Ltd v Namulas Pension Trustees Ltd)

The following Property Disputes news provides comprehensive and up to date legal information on Discharge of restrictive covenant—original contracting parties (Father's Field Development Ltd v Namulas Pension Trustees Ltd)

SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

The following Private Client news provides comprehensive and up to date legal information on SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

Featured Property content

Mortgagees and tenants

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written...

Option agreements—the need for a long-stop date

Option agreements—the need for a long-stop date

Call options are frequently used by developers to secure a right to buy land if planning permission is obtained. Taking an option provides the...

Template completion statement—sale

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...

Standard Commercial Property Conditions (Second Edition)

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...

Precedents

Report on title—long form

Property: [insert name and/or address of the Property] (‘Property’)Purchaser: [insert name, address and (if applicable) company registration number of...
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19th May
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...
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19th May
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...
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19th May
Practice notes

Indemnity covenants in property transfers

This Practice Note looks at when an indemnity covenant should be given in a transfer of land. For general content on indemnities, see Practice Note:...
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19th May
Q&As

Should an indemnity covenant in a transfer deed (TR1) require the transferee to indemnify 'the transferor's estate and effects' as well as the transferor, for non-performance etc?

Should an indemnity covenant in a transfer deed (TR1) require the transferee to indemnify 'the transferor's estate and effects' as well as the...
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19th May
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....
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19th May
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...
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Produced in partnership with Kenneth S Gerber of Mitchells Roberton 19th May
tag iconScottish Law
Practice notes

Restrictive covenants and unregistered land

Registrable restrictive covenantsRestrictive covenants imposed on unregistered land are registrable as D(ii) land charges unless:•entered into before...
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19th May
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...
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19th May
Practice notes

Dealing with rights of access in property transactions—Scotland

Ownership, leasing or any other permitted use of land normally requires access to it to obtain the benefit of the land. The public are allowed to use...
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Produced in partnership with Stuart King of Blackadders and Melanie Ballantyne of Blackadders 19th May
tag iconScottish Law
Q&As

Where a transfer contains an estate rentcharge, is it possible to agree that section 121(4) of the Law of Property Act 1925 allowing the rentcharge holder to create a rentcharge lease, shall not apply? If it is possible, do you have a Precedent agreement in this regard?

RentchargesA rentcharge is the payment of a fixed sum of money on an annual basis by the freehold owner of the affected land to the holder of the...
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19th May
Practice notes

Legal mortgages and legal charges

The terms ‘mortgage’ and ‘charge’ are often used as though they are interchangeable. Strictly speaking, they are not. Both are security for the...
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19th May
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)....
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19th May
Practice notes

Quistclose trusts

What is a Quistclose trust?A Quistclose trust is an example of an ‘automatic’ resulting trust, ie a trust which arises where property is transferred...
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19th May
Practice notes

Property exclusivity agreements

An exclusivity agreement (lockout agreements) may be used where the buyer wants to prevent the seller from negotiating for the sale of the property...
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19th May
Practice notes

Dealing with rights of pre-emption on transfer of property in Scotland

What is a pre-emption?A pre-emption is a type of option to purchase—historically the most common and arguably the least complex (at least in the form...
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Produced in partnership with Stuart King of Blackadders and Melanie Ballantyne of Blackadders 19th May
tag iconScottish Law

Most recent Assignment and underletting content

Q&As

How does the General Data Protection Regulation impact on property owners and managers?

How does the General Data Protection Regulation impact on property owners and managers?The General Data Protection Regulation (Regulation (EU)...
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25th Jul
Q&As

Where a tenant company has filed a company voluntary arrangement (CVA) and wishes to assign the lease, should the landlord deal with the tenant or its insolvency practitioners in that regard? And, in the context of a CVA, can the landlord request an authorised guarantee agreement from the original guarantor?

Where a tenant company has filed a company voluntary arrangement (CVA) and wishes to assign the lease, should the landlord deal with the tenant or its...
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Produced in partnership with Helen Galley of XXIV Old Buildings 20th Jul
Precedents

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up

Underlease of whole premises demised by headlease—part of office building—illustrative mark-upPrecedent underlease of part-offices—whole of premises...
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25th Jun
Practice notes

Alienation—a practical lease negotiation guide

Alienation—a practical lease negotiation guideThis Practice Note discusses considerations when negotiating alienation provisions in a rack rent...
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24th Jun
Q&As

Where a landlord intends to grant a long lease of commercial property at less than market rent to a corporate tenant (the holding company of a number of subsidiary companies) who undertakes certain development obligations in the lease, is it reasonable for the landlord to include provisions to: (a) forfeit the lease in the event of change of control of the tenant and/or (b) restrict the ability of the tenant to undergo a change of control amounting to ‘assignment by the backdoor’?

Where a landlord intends to grant a long lease of commercial property at less than market rent to a corporate tenant (the holding company of a number...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 24th Jun
Precedents

Licence to assign—new tenancy

Licence to assign—new tenancyDate: [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company registration number [number]...
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24th Jun
Precedents

Licence to sub-underlet

Licence to sub-underletDate [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company registration number [number] whose...
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24th Jun
Precedents

Licence to assign—old tenancy

Licence to assign—old tenancyDate [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company registration number [number]...
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24th Jun
Precedents

Heads of Terms—headlease

Heads of Terms—headlease1Parties1.1Landlord[details]1.2Tenant[details]1.3Guarantor(s)[details]2Rent Deposit£ [amount] for [number] years3Property...
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24th Jun
Precedents

Notice of assignment and charge

Notice of assignment and chargeNotice of assignment [and charge]Lease: the lease of the Property dated: [insert the date in its full format...
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24th Jun
Precedents

Licence to change use (new use class contemplated by lease)

Licence to change use (new use class contemplated by lease)Date [date]Parties1[name of Landlord] [of OR incorporated in England and Wales with company...
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22nd Jun
Precedents

Letter licence to assign—new tenancy

Letter licence to assign—new tenancyConditional consent to assignWARNING: THIS PRECEDENT SHOULD ONLY BE USED IN THE MOST STRAIGHTFORWARD OF LOW-VALUE...
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18th Jun
Q&As

A tenant (A) proposes to take an assignment of a lease from the existing tenant (T). The lease entitles the landlord (L) to require a director’s guarantee from the assignee, where reasonable. L and A have agreed that A will provide a rent deposit instead of a guarantee, although the lease does not provide that L may require a deposit. L refuses to include a covenant in the rent deposit deed to procure a covenant from any new reversioner (R) to comply with L's covenants in the deed concerning the deposit and to transfer the deposit to R. Does A have any grounds to require that such a covenant is included?

A tenant (A) proposes to take an assignment of a lease from the existing tenant (T). The lease entitles the landlord (L) to require a director’s...
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18th Jun
Practice notes

Acting for a tenant—assignment of existing lease—key issues

Acting for a tenant—assignment of existing lease—key issuesIs the landlord’s consent required to the assignment?Check the terms of the lease...
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18th Jun
Q&As

Can a landlord require a tenant who gave an authorised guarantee agreement (AGA) in relation to a protected tenancy to enter into a new AGA when the lease is renewed pursuant to the Landlord and Tenant Act 1954 or for the AGA to continue?

Can a landlord require a tenant who gave an authorised guarantee agreement (AGA) in relation to a protected tenancy to enter into a new AGA when the...
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11th Jun
Q&As

Can a commercial tenant request that a landlord agrees to the assignment of a lease when the tenant has served a section 26 notice and the parties are in the process of negotiating terms? Is the landlord entitled to withhold consent until the terms of the new lease have been agreed?

Can a commercial tenant request that a landlord agrees to the assignment of a lease when the tenant has served a section 26 notice and the parties are...
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11th Jun
Q&As

The tenant of a long lease has sublet the whole of the property. There are 40 years of the term remaining. The landlord has requested details of the terms of the sublease, but the tenant refuses to provide any information. Bearing in mind that a section 40 notice can only be served during the final two years of the term, is there any other action the landlord can take to require the tenant to provide information about the terms of the subletting?

The tenant of a long lease has sublet the whole of the property. There are 40 years of the term remaining. The landlord has requested details of the...
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11th Jun
Q&As

Is it possible to assign the benefit of specific parts of a contract as opposed to the whole of it?

Is it possible to assign the benefit of specific parts of a contract as opposed to the whole of it?The starting point is that the benefit of a...
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10th Jun
Q&As

A licence to assign authorising the assignment of a lease from the previous tenant to the current tenant included a definition that any reference to the landlord included the landlord’s successors in title but this definition is not included in the authorised guarantee agreement (AGA) given by the previous tenant. Will covenants given by a previous tenant in an AGA be enforceable by the purchaser of the reversion if the AGA does not expressly state it benefits the landlord’s successors in title?

A licence to assign authorising the assignment of a lease from the previous tenant to the current tenant included a definition that any reference to...
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6th Jun
Q&As

Can a consent to assignment from a landlord required under the lease be by way of letter rather than a formal licence? If so must the letter be signed by the landlord or can it be signed by the landlord’s solicitors and if so can the following wording be used: ‘as solicitors for the landlord we now formally consent to the assignment of the lease…?’

Can a consent to assignment from a landlord required under the lease be by way of letter rather than a formal licence? If so must the letter be signed...
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Produced in partnership with Desmond Kilcoyne 6th Jun

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