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Latest Property News

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

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)

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)

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)

Property weekly highlights—8 April 2021

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

Featured Property content

What is a certificate of title?

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...

Overreaching—sales by trustees of land

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...

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly...

Resulting trusts

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive...

Practice notes

Standard Commercial Property Conditions (Third Edition—2018 Revision)

The third edition of the Standard Commercial Property Conditions was published on 27 April 2017 a...
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9th Nov
Practice notes

Benevolent funds

A benevolent fund is an institution, including a body of trustees, which holds funds on trust for the purpose of relieving poverty amongst a defined...
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9th Nov
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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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]...
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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...
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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....
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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...
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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...
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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...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 12th Jan
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...
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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...
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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...
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9th Nov
Precedents

Deed of release of covenants

This Deed is made on [date]Parties1[name of person releasing the covenants] [of [insert address] OR incorporated in England and Wales with company...
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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....
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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...
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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...
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9th Nov

Most recent Capital allowances content

Practice notes

Plant and machinery allowances—types and rates

Capital allowances are the means by which a taxpayer can obtain a deduction when calculating taxable profits for some, but not all, forms of capital...
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Produced in partnership with Martin Wilson 12th Apr
Practice notes

Plant and machinery allowances—fixtures

A taxpayer may be able to obtain tax relief for expenditure on fixtures by claiming plant and machinery allowances. For more on the availability of...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes

Section 198 and 199 elections on transactions involving real estate

This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes

Plant and machinery allowances—integral features

Certain items of plant and machinery (see Practice Note: Plant and machinery allowances—definition of plant and machinery) are classified as ‘integral...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes

Capital allowances—interaction with CGT, VAT and stamp taxes

This Practice Note sets out how the capital allowances rules interact with the rules relating to:•capital gains tax, including corporation tax on...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes

Capital allowances on property sales—pre-contract enquiries

This Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property...
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Produced in partnership with Martin Wilson 9th Apr
Practice notes

Structures and buildings allowances

FORTHCOMING CHANGE: The government intends to legislate to amend the requirements for SBA allowance statements, to include the date qualifying...
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Produced in partnership with Martin Wilson 25th Mar
Practice notes

Plant and machinery allowances—definition of plant and machinery

Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 22nd Mar
Q&As

An individual sells property containing integral features to their brother’s company. Do the connected persons rules prevent the buyer from claiming capital allowances on the integral features? The seller will not be bringing a disposal value into account and the fixed value and pooling requirements do not apply.

Under section 575(6) of the Capital Allowances Act 2001 (CAA 2001), a company is connected with an individual if:•that individual has control of the...
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15th Feb
Q&As

Are expenses incurred during an extensive refurbishment of a property deductible expenses of the subsequent property rental business?

In this Q&A we assume that the owner of the property is a non-UK resident individual and is not calculating trade profits on the cash basis.For...
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15th Feb
Q&As

Can a buyer and seller make a section 198 election on the sale of a property when the seller has not claimed any capital allowances (it is a pension fund) and if not, how does the buyer claim any capital allowances?

The purpose of an election under section 198 of the Capital Allowances Act 2001 is to allow the buyer and seller of a property to elect jointly to...
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15th Feb
Precedents

Capital allowances clauses—property sale contract

1Capital allowances—for use where the Seller has claimed plant and machinery allowances and the parties will enter into a s 198/s 199 election on...
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Produced in partnership with Martin Wilson 14th Feb
Precedents

Capital allowances clause—agreement for lease with a landlord’s contribution

1Capital allowances1.1In this clause 1:CAA 2001•means Capital Allowances Act 2001Fixtures•means those items forming part of the Tenant’s Works which...
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Produced in partnership with Martin Wilson 14th Feb
Precedents

Election—capital allowances apportionment on sale of land—CAA 2001, s 198

[Date][Transferor's name and Unique Taxpayer Reference (UTR)][Transferee's name and UTR]Election to apportion the price of fixtures under section 198...
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Produced in partnership with Martin Wilson 8th Jan
Precedents

Election—capital allowances apportionment on grant of lease—CAA 2001, s 199

[Date][Grantor's name and Unique Taxpayer Reference (UTR)][Grantee's name and UTR]Election to apportion the price of fixtures under section 199 of the...
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Produced in partnership with Martin Wilson 8th Jan
Q&As

How should I adapt your precedent ‘capital allowances clauses—property sale contract’ where the figure to be pooled by the seller and claimed by the buyer has been agreed in advance?

The ‘pooling requirement’ applies to buyers of second-hand fixtures where the seller (or the most recent previous owner that owned the fixtures for a...
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29th Nov
Q&As

What are the consequences for the seller of entering into an invalid s 198 election on the sale of property?

The purpose of an election under section 198 of the Capital Allowances Act 2001 (CAA 2001) is to allow the buyer and seller of a property to elect...
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29th Nov

Popular documents

LEXISNEXIS

Law of the arbitration proceedings—curial law or lex arbitri (England and Wales)

This Practice Note considers the law governing the procedural law of arbitration proceedings (the curial law or lex arbitri) and how it is determined under the law of England and Wales (England and English are used as convenient shorthand).The procedural law of the arbitral proceedingsThe procedural

LEXISNEXIS

Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is

LEXISNEXIS

Negative pledges

This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere

LEXISNEXIS

The tort of deceit

Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the