Transfers and assignments

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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...

Title guarantee and covenants for title

On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title...

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...

Practice notes

Equitable mortgages and equitable charges—general principles and registered land

Nature of mortgages and chargesMortgages and charges are distinct forms of security. A mortgage can be legal or equitable and involves the transfer of...

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...

9th Nov

Practice notes

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...

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...

9th Nov

Practice notes

Remedies for breach of restrictive covenants

Damages or injunction — the testThe primary remedy for breach of a restrictive covenant is a permanent injunction to restrain the breach. However, the...

9th Nov

Practice notes

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...

9th Nov

Practice notes

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...

9th Nov

Precedents

Specific clauses for transfers—indemnity covenant

Panel 11 (transfer of whole)/panel 12 (transfer of part)—Additional provisions1Definitions[Lease•the lease particulars of which are set out in...

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

Practice notes

Rent suspension or cesser

Generally, the tenant remains liable for the rent even though the premises have become unusable. Consequently, leases normally contain a provision...

9th Nov

Practice notes

Easements—nature and characteristics

Nature of an easementAn easement is an incorporeal right enjoyed by the owner of a legal estate (dominant tenement) over land in the ownership of...

9th Nov

Precedents

Disclosable overriding interests questionnaire

You are applying for registration of [insert details of property] at HM Land Registry and as part of that application you must disclose any overriding...

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 Transfers and assignments content

Q&As

If a registered property has been sold and the buyer is unable to register it because the power of attorney documents relied on by the seller were incorrect (and certified copies were not provided pre-sale) what route can be taken to remedy this post-completion?

In this situation section 2 of the Law of Property (Miscellaneous Provisions) Act 1994 (LP(MP)A 1994) may assist. If the property was transferred with...

22nd Jan

Q&As

Where a business lease has expired can the tenant holding over assign their rights under the Landlord and Tenant Act 1954 to a third party?

Business tenancyA commercial tenancy which is a ‘business tenancy’ attracts security of tenure under the provisions of the Landlord and Tenant Act...

Produced in partnership with Christopher Snell of New Square Chambers 22nd Jan

Q&As

Does a licence to assign need to be noted on the title entries for the leasehold title to which it relates?

In answering this Q&A, we assume the scenario related to registration of the assignment itself rather than registration of the document (ie the...

22nd Jan

Q&As

Can the owners of a property fronting an unadopted road (which they enjoy a right of way over) force an adjoining landowner to contribute to a proportion of the cost of repair and/or of bringing the road up to an adopted standard, if the council decided to adopt it, if there is a positive covenant to repair which is backed up by an indemnity covenant in the title?

Case studyThe landowner with the burden of the positive covenant to maintain/repair has no requirement or ability to use the unadopted road and access...

Produced in partnership with David Sharpe of 12 King's Bench Walk Chambers 22nd Jan

Q&As

Can a 50% co-owner (A) of the freehold reversion to 3 long residential leases, none of which is held by A, compel the other 50% co-owner (B) to execute a transfer to transfer A’s interest in the freehold to 2 of the long leasehold owners (C and D)?

This Q&A will be relevant where the co-owner no longer has a leasehold interest in the flat and the legal title is held as joint tenants. For further...

22nd Jan

Q&As

When transferring a property from Party A and Party B to Party A only, can completion occur before Party A has signed the transfer deed and at what point will Party B receive the completion monies?

In answering the above, it will be assumed that there is no mortgage but if there is, it will need to liaise with the lender to ascertain their...

22nd Jan

Q&As

My client is a newly incorporated charitable incorporated organisation (CIO). Title to the property is registered in the name of two former trustees who are alive but have no involvement in the CIO. The former trustees are agreeable to transferring the property to the CIO. There is currently a Form A restriction on the title register which will not automatically be removed. How can the Form A restriction be removed upon registering the CIO as the proprietor (there are currently three trustees)? Usually, Form ST5 accompanied by Form RX3 is required but this does not seem to fit these circumstances.

Charitable incorporated organisations (CIOs) were introduced by the Charities Act 2011 (CA 2011) and are governed by the provisions of CA 2011,...

Produced in partnership with Chris Bryden of 4 King’s Bench Walk 22nd Jan

Q&As

If a property sale contract includes a restrictive covenant but the restrictive covenant is not thereafter reflected in the completed transfer is that restrictive covenant binding on the purchaser?

Meaning of ‘covenant’Definition and construction of covenant: Halsbury’s Laws of England [448] states:‘A covenant is an agreement contained in a deed...

22nd Jan

Q&As

For a transfer of a leasehold interest, where the lease is dated after 1 January 1996, and thereby a new lease for the purposes of the Landlord and Tenant (Covenants) Act 1996, is an indemnity clause indemnifying the outgoing tenant against claims of rent or service charge payments unnecessary?

A covenant to pay the rent, perform the tenant’s covenants and to indemnify against any liability incurred arising from a failure to do so, is only...

22nd Jan

Q&As

Do you have a plot sales transfer which incorporates a management company?

We do not have Precedent on the specific point raised in this Q&A. However, we refer you to the following which you may be able to adapt for your...

22nd Jan

Q&As

Where a freehold residential property transfer imposes an obligation on the transferee to pay an annual contribution towards the cost of the maintenance of private roads and other private areas, can this be construed as a rent charge even if this terminology is not used in the transfer deed?

When selling a freehold property, sellers may wish to create positive covenants for future owners to perform. Problems may arise with the enforcement...

22nd Jan

Q&As

Where there is to be a gift of land, what formalities are required to register the gift of land at HM Land Registry?

It has been assumed for the purposes of this Q&A that the gift is of freehold land.Section 2 of the Law of Property (Miscellaneous Provisions) Act...

22nd Jan

Q&As

Is an assignee liable for rent arrears or service charge accrued by the assignor prior to assignment of an old lease (ie granted prior to 1 January 1996)?

The Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) provides that any lease granted on or after 1 January 1996 creates what is defined as a...

22nd Jan

Q&As

Where a single parcel of land is to be split into two separate parcels (with separate title numbers), can easements be created over one of the new parcels to prevent the parcel being landlocked, given that both parcels will remain in common ownership? The parcel to be subject to the easements will also be charged.

An easement is a right granted to the owner from time to time of one piece of land over another piece of land for the benefit of the former. The two...

Produced in partnership with Chris Bryden of 4 King’s Bench Walk 22nd Jan

Q&As

Where should I start a claim for a vesting order to transfer the freehold to a leaseholder where the landlord cannot be found and what is the requisite court fee?

This Q&A is answered on the basis that the claim in question relates to an absent landlord in the context of Part I of the Leasehold Reform, Housing...

Produced in partnership with Kate Andrews of Hamlins 22nd Jan

Q&As

If a parcel of land is owned by A, B & C and there is an agreement between them to split the parcel of land and transfer part of it from A, B & C to C, with A & B keeping the retained land, can this be achieved by way of a TP1 or would a formal application to the Land Registry be necessary? New easements will be granted and reserved along with new covenants imposed.

In Land Registry terms, a transfer of part of land in two titles from the landowner to himself in order to create a third title, does not constitute a...

22nd Jan

Q&As

A buyer is purchasing part of the title to a property under a possession order from a company. The title to the property has not been transferred into the company’s name. Should this have been done? What protections should be put in place? The buyer’s solicitor also acts for the lender.

IntroductionThe protections that must be put in place vis-à-vis the sale of land in the scenario described depend upon whether or not the parcel of...

Produced in partnership with Christopher Snell of New Square Chambers 22nd Jan

Q&As

A client is letting a property to a tenant who is the Secretary of State for a UK government department. What is the correct form of execution of a deed by the Secretary of State? The tenant’s solicitor proposes to execute the document by way of affixing the seal of the Secretary of State to the document together with a signature of an authorised person. Is there authority to do this?

Government departments and government ministers (when acting in their official rather than their personal capacity) are generally regarded as...

22nd Jan

Q&As

A common amendment made to a transfer of land is to provide that the transferor’s covenant to comply with title matters is ‘by way of indemnity only’. What is the effect of this amendment and in whose interest is it?

A covenant to comply with title matters ‘by way of indemnity only’Where a transfer of land takes place, the parties should effect the transfer using...

22nd Jan

Q&As

Where a bankrupt’s home is being sold with the bankrupts agreement without an order for sale and the bankrupt is the registered owner, does the bankrupt need to sign the sale agreement and TR1 as well as the trustee?

For the purposes of this Q&A, we have assumed that the bankrupt was the sole legal owner of the property. Where an individual is declared bankrupt and...

22nd Jan