Transferring property

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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

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...

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...

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...

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...

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

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]...

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....

9th Nov

Practice notes

Letter/certificate of non-crystallisation in property transactions

What is a letter of non-crystallisation?A letter of non-crystallisation is required by a buyer’s/lender’s solicitor to confirm that:•a floating charge...

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

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

Q&As

Does the doctrine of unity of seisin apply as between two parcels of land held under one title (residential part and retained part) where—a owns the whole property and transfers the beneficial interest in the residential part to B under a lifetime trust? A and C jointly own the whole property and transfer the beneficial interest in residential part to B under a lifetime trust, A and C retain the legal interest in the residential part and A retains sole legal and beneficial interest in the retained part?

The ‘unity of seisin’ rule dictates that easements and profits cannot exist where the dominant and servient land are in common ownership and...

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

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

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...

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....

9th Nov

Practice notes

Sub-sales and assignments

A sub-sale is where A contracts to sell a property to B but, before completing the purchase from A, B then contracts to sell the property to C. There...

9th Nov

Most recent Transferring property content

Practice notes

Contracts for the sale of land—formation, signature and variation

IntroductionA contract for the sale, or other disposition, of an interest in land is void unless it complies with section 2 of the Law of Property...

12th Apr

Practice notes

Planning judicial review

Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the coronavirus outbreak...

9th Apr

Practice notes

UK GDPR and property transactions

From 1 January 2021, the UK GDPR regime applies to the processing of personal data in the UK. The UK GDPR regime comprises the Retained General Data...

9th Apr

Practice notes

Property deeds—use and execution of deeds in property transactions

IntroductionThis Practice Note looks at when deeds are required in property transactions, how deeds are validly executed by individuals in accordance...

9th Apr

Practice notes

Variation of trusts—variation of trusts without the court's assistance

Variation of trustsAs a general rule trustees are bound to carry out the settlor's wishes. However, circumstances may arise where a variation is...

9th Apr

Practice notes

Overreaching by a mortgagee

Overreaching is a statutory mechanism available to a mortgagee (amongst others) to confer title on the buyer free from charges and encumbrances...

Produced in partnership with Amanda Eilledge of Hardwicke Chambers 9th Apr

Practice notes

Dissolution and bona vacantia—dealing with the Treasury Solicitor

Bona vacantia means ‘goods without an owner’ and is a relevant consideration where any company is at risk of being struck off and dissolved. Any...

Produced in partnership with Katrina Mather of Hardwicke Chambers 9th Apr

Practice notes

Fifth Money Laundering Directive—what’s changed? [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained.The Fourth Money Laundering Directive (4MLD), replacing the Third Directive which...

9th Apr

Practice notes

Money Laundering Regulations 2017—scope and application

This Practice Note sets out the scope and application of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)...

9th Apr

Practice notes

Trustees—removal of trustees

A trustee may be removed against their will in any of the following ways:•under an express power in the trust instrument•under section 36(1) of the...

9th Apr

Practice notes

Trustees—appointment of trustees

Original trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust instrument should also make...

9th Apr

In-house

Practice notes

Perpetuities and accumulations

The rules relating to perpetuities and accumulations stem from the common law and the provisions in the Perpetuities and Accumulations Act 1964 (PAA...

9th Apr

Practice notes

Trust disputes—asset tracing

In some circumstances a beneficiary will want to recover a specific asset. Tracing as a remedy will be the preferred option as the claimant seeks to...

9th Apr

Practice notes

Charity terms and their meaning

Definitions of charity and charitable trustThe relevant definitions for the purposes of the law in England and Wales are:•'charity' means an...

9th Apr

Practice notes

Trustees—self-dealing, unauthorised profits and conflicts of interest

The self-dealing ruleThe self-dealing rule is connected to, but distinct from, the fair dealing rule as well as the genuine transaction rule. There is...

9th Apr

Practice notes

Trustees—statutory powers of trustees

Source and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the Trustee Act 1925 (TA 1925) and the...

9th Apr

Practice notes

Trustees—trustee investment powers

General lawThe original trust fundFor a settlement to be effective it needs property to be subject to the trusts. When a settlement is created the...

9th Apr

Practice notes

Trustees—trustees' power to lend

General investment powerThe powers possessed by trustees to administer a trust effectively emanate from statute, mainly the Trustee Act 1925 (TA 1925)...

9th Apr

Practice notes

Variation of trusts—variation of trusts with the court's assistance

Variation of trustsIt is open to any settlor to impose such trusts and confer such powers and discretions as they see fit. Consequently, the general...

9th Apr

Practice notes

Creation of trusts—by transfer of property to trustees

Creation by transfer of property to trusteesIn practice trusts will frequently be created by a settlor transferring assets to independent trustees on...

9th Apr