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Property weekly highlights—21 January 2021

The following Property news provides comprehensive and up to date legal information on Property weekly highlights—21 January 2021

Supreme Court decides on COVID-19 business interruption coverage—what does this mean for real estate?

The following Property Disputes news provides comprehensive and up to date legal information on Supreme Court decides on COVID-19 business interruption coverage—what does this mean for real estate?

A trust of open land for the benefit of the public does not endure where a disposal of that land is made in breach of the rules about disposals (R (Day) v Shropshire Council)

Section 106 insights—part three—common obligations and common pitfalls, particularly agreed carbon targets and contributions, employment and training obligations, and Grampian obligations

Featured Property content

Constructive trusts

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

The equity of redemption

Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor...

Manorial rights

Manorial rights are relics of the feudal system of land tenure. They can still exist in relation to land that:•is former copyhold land, or•was...

Rent deposit deeds—common structures

What is a rent deposit?A rent deposit is a sum of money that is deposited by a tenant when it takes a lease of premises as security against the...

Practice notes

Consecrated ground and burial grounds—issues for developers

Consecrated land—Church of EnglandFor the purposes of this section of this Practice Note, consecrated land means any land or building which has been...

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

Insurance—non-vitiation (non-invalidation) clauses

Vitiation of an insurance policyAn insurance policy may be vitiated (or invalidated) if the insured:•misrepresents or fails to disclose any material...

9th Nov

In-house

Practice notes

Easements—actionable interference

Wrongful interference with an easement is a private nuisance. The existence of the easement must be established for a claim to succeed.Not every...

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

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

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

Contract races

The Solicitors Regulation Authority’s (SRA) Handbook (SRA Handbook 2011) which contains the Solicitors Regulation Authority’s Code of Conduct (SRA...

9th Nov

In-house

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

Precedents

Rent Review Memorandum

Rent Review MemorandumLandlord•[insert full name of Landlord] [of [insert address] OR incorporated in England and Wales with company registration...

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

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 Residential property content

Practice notes

Mortgagee in possession

This Practice Note covers the rights and responsibilities of a mortgagee in possession.RightsA legal mortgagee has a right to possession of the...

21st Jan

Q&As

Is the landlord able to include the right to redevelop in a new lease when granting a voluntary lease extension for a residential property lease?

Leaseholders of flats, where the lease is for a term of more than 21 years when it is first granted, usually have a right to request a lease extension...

Produced in partnership with Shabnam Ali-Khan of Russell-Cooke 21st Jan

Practice notes

Taking security over land

Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...

21st Jan

In-house

Practice notes

Houses in multiple occupation (HMOs)—mandatory licensing

Mandatory licensingPart 2 of the Housing Act 2004 (HA 2004) places a duty on a local housing authority (LHA) to effectively implement mandatory...

21st Jan

Practice notes

Houses in multiple occupation (HMOs)—applying for a licence

HMO licensing is the responsibility of the LHA of the area in which the HMO is located. Licensing is either mandatory under Part 2 of the Housing Act...

21st Jan

Practice notes

Land registration—restrictions

A restriction can be entered in the register and indicates that the proprietor's powers of disposition are fettered in some way. Its effect is to...

21st Jan

Practice notes

Execution of deeds—HM Land Registry requirements

Execution of deedsMost deeds entered into in the course of a property transaction will require substantive registration or the making of entries on...

20th Jan

COVID-19

Practice notes

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...

19th Jan

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)....

19th Jan

Practice notes

Minimum energy efficiency standards (MEES) in the private rented sector—snapshot

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...

18th Jan

Practice notes

A summary of the Renting Homes (Wales) Act 2016

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

18th Jan

Practice notes

New home warranties

This Practice Note looks at the principal types of policy or guarantee (other than latent defects insurance) that are currently on the market to...

18th Jan

Practice notes

Mortgages

Lenders will often take security as support for a borrower's obligations under a loan. Taking security means that they will have certain rights over...

17th Jan

Practice notes

Crystallisation of floating charges

The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...

17th Jan

Practice notes

Fixed and floating charges

There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...

17th Jan

Practice notes

Assignments by way of security

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

17th Jan

In-house

Practice notes

Regulated mortgage contracts and home finance transactions defined

Background to the regulation of home finance transactionsThe regulation of home finance transactions came about at different points in time. HM...

17th Jan

Practice notes

How is a mortgage created?

A mortgage is one of the four types of security recognised under English law and described in Types of security.This Practice Note explains how a...

17th Jan

Practice notes

Legal versus equitable security interests

Lenders will often take security as support for a borrower's obligations under a loan. Taking security means that they will have certain rights over...

17th Jan

Practice notes

Types of security

A lender's primary concern is that it is repaid. Even if a lender obtains a judgment for payment of the sum owed to it by its borrower, this does not...

17th Jan

In-house