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Practice notes
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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9th Nov
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
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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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
Precedents
[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]...
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9th Nov
Practice notes
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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9th Nov
Practice notes
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...
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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
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...
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9th Nov
Precedents
Transfer of partPrecedent transferAn adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link:Drafting...
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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 Solicitors Regulation Authority’s (SRA) Handbook (SRA Handbook 2011) which contains the Solicitors Regulation Authority’s Code of Conduct (SRA...
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9th Nov
Practice notes
How should the money be transmitted?Most contracts relating to commercial property incorporate either the second or third editions of the Standard...
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9th Nov
Practice notes
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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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 Overage content

Practice notes
This Practice Note is about the VAT implications of overage payments.Why does this matter?Very broadly, VAT will be due on overage if the original...
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Produced in partnership with Martin Scammell 15th Jan
Practice notes
Overage (sometimes known as clawback or deferred consideration) enables a seller to benefit from an uplift in the value of land (eg where planning...
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15th Jan
Practice notes
An unpaid vendor’s lien operates as a type of equitable charge giving the vendor full security in equity for payment of the agreed purchase price. It...
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15th Jan
Practice notes
When a solicitor is instructed to draft and negotiate an agreement that includes receipt of overage payments, those instructions include an obligation...
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15th Jan
Practice notes
Overage is a covenant or contractual obligation by the buyer to make an additional payment to the seller in the event that specified events occur. It...
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15th Jan
Q&As
Part 25 of the Companies Act 2006 (CA 2006) governs the procedure for a company to register at Companies House a charge that it has created over its...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 8th Jan
Q&As
In answering this Q&A, we have considered the power of a liquidator to deal with the company’s assets after the commencement of liquidation.Section...
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Produced in partnership with Simon Passfield of Guildhall Chambers 8th Jan
Q&As
The sale of local authority land is governed by section 123 of the Local Government Act 1972 (LGA 1972). This provides:•subject to the following...
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Produced in partnership with Kevin Leigh of No 5 Chambers 8th Jan
Q&As
Full title guaranteeWhere a seller transfers the property with full title guarantee, one of the implied covenants for title is that the seller is...
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Produced in partnership with Kevin Leigh of No 5 Chambers 8th Jan
Precedents
[To be printed on headed notepaper of applicant including full contact details]HMRCSDLT Deferment Applications[[insert relevant HMRC address]]United...
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29th Nov
Q&As
Does the benefit of an overage covenant run with the land?The payment of overage is a positive covenant and so it is possible for the benefit of it to...
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29th Nov
Q&As
An overage is an obligation to pay a sum of money to the vendor of land, additional to that which is paid in consideration of the original transfer....
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29th Nov
Q&As
Restriction and successor covenantThe question of how to comply with the overage deed will of course depend upon its provisions. However it is likely...
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29th Nov
Q&As
It is assumed that the company was dissolved by way of the voluntary striking off procedure or the Registrar of Companies’ powers to strike off a...
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29th Nov
Q&As
The Perpetuities and Accumulations Act 2009 reformed and simplified the law on perpetuities. However, a deed executed pre 2010 falls to comply with...
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29th Nov

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