This Practice Note sets out an explanation of the legal position should the buyer or the seller of residential property die following exchange of contracts but before completion. It considers what action should be taken, as well as what happens if the seller/buyer consists of two or more individuals and only one of them dies. It assumes that the sale contract incorporates the Standard Conditions of Sale (Fifth Edition—2018 Revision) (SCS). See Practice Note: Standard Conditions of Sale (Fifth Edition—2018 Revision)—a guide to the main provisions. It covers the position where the parties are co-owners buying or selling for themselves, but does not cover the position for other trusts of land. For guidance on trusts of land, see: Trusts of land for property lawyers—overview. Devolution of title—vesting in personal representatives On the death of a sole buyer or seller, the interest of the deceased in the property passes to their personal representatives (PRs) (eg either the executor(s) or administrator(s)). Where there is a Will,

This Practice Note looks at assents of interests in land by the personal representatives of a deceased proprietor of land. It primarily considers the form and use of an assent for vesting a legal or equitable interest in land in a beneficiary under a will or in trustees to be held under the terms of an ongoing trust. For content on other issues which may arise as the result of the death of an owner of an interest in land, see Practice Notes: • Death of a proprietor of land—sale of property by a sole surviving co-owner • Death of a proprietor of land—death of the seller or buyer between exchange and completion • Death of a landlord or tenant Use and form of an assent of land Ordinarily, a transfer of land must be made by deed. However, where: • the estate of a deceased person includes a legal or equitable interest in freehold or leasehold land, and • a third party is entitled to that interest (either

This Practice Note sets out the issues arising on a sale of property by a surviving co-owner. It covers the position in respect of joint tenants and tenants in common, overreaching of equitable interests, the points that a buyer’s solicitor should consider and HM Land Registry registration requirements. Co-ownership Where property is purchased in the joint names of two or more co-owners a statutory ‘trust of land’ arises. The Trustee Act 1925 limits the number of trustees to a maximum of four. If the property is purchased in the joint names of more than four co-owners, the legal estate vests in the first four listed. Where property is held on a trust of land, the legal estate and equitable estate are separate. The trustees must hold the legal estate as joint tenants. A legal joint tenancy cannot be severed and when one joint tenant dies their legal interest in the property automatically passes to the remaining joint tenants. However, co-owners can hold the beneficial interest

Employee share scheme participants and shareholders This Practice Note looks at the issues arising on the death of a participant in both HMRC tax-advantaged schemes and various unapproved share scheme arrangements. It also looks at the practical issues in relation to the death of an employee shareholder who may have acquired shares under such arrangements. Market practice Early Vesting It is common in most employee share schemes to treat death as a 'good leaver' situation (see Practice Note: Drafting leaver provisions in share plans—Different treatment for different types of leavers). This will often mean that early vesting or exercise of awards will be triggered. Where this is the case, and the scheme involved is an option arrangement, the personal representatives of the deceased participant will be entitled to exercise options during a fixed period of time (usually 12 months following death). Similarly, options which have already vested will usually need to be exercised during a set period from the date of death, after which they will lapse. The period for exercise

Benefits paid to a scheme member (or his estate or dependants) on death while working in the company which is the sponsor of the plan.

HM Treasury (HMT) has announced new rules that will require banks to give customers 90 days’ notice before closing accounts and provide a clear explanation. The changes will prevent banks closing accounts without a clear reason, while giving people and businesses the time and information needed to challenge decisions. The new legislation being brought forward subject to Parliamentary approval would apply to all payment service providers (PSPs) who decide to terminate payment service contracts without a definite expiry date, including bank account closures. They will apply to contracts agreed from and including 28 April 2026, when the legislation is expected to come into force.

Debarment is the exclusion of a company from entering into public contracts whether as a supplier, contractor or service provider. It applies automatically where a company has been convicted of bribery, fraud (where the offence affects the financial interests of the EU) and money laundering.

ARCHIVED: This Practice Note has been archived and is not maintained. This practical guidance relates to the pre-Procurement Act 2023 regime This Practice Note contains guidance relevant to public procurement exercises commenced before the Procurement Act 2023 (PA 2023) came into force on 24 February 2025. In-scope procurements begun on or after this date are governed by PA 2023. Under the transitional and savings provisions for PA 2023, the previous public procurement regimes continue to apply to the extent necessary to allow contracting authorities to complete and manage procurements commenced before PA 2023 came into force (ie ongoing procurements). This Practice Note should be read in that context. For background reading, see Practice Note: Introduction to the Procurement Act 2023—PA 2023. Further practical guidance on PA 2023 is set out in a separate subtopic, see: Procurement Act 2023—overview. This includes the following Practice Note: Debarment—PA 2023. Public procurement in the UK Public procurement is the purchase of goods, works or services by public sector bodies.

ARCHIVED: This Checklist has been archived and is not maintained. This practical guidance relates to the pre-Procurement Act 2023 regime This Practice Note contains guidance relevant to public procurement exercises commenced before the Procurement Act 2023 (PA 2023) came into force on 24 February 2025. In-scope procurements begun on or after this date are governed by PA 2023. Under the transitional and savings provisions for PA 2023, the previous public procurement regimes continue to apply to the extent necessary to allow contracting authorities to complete and manage procurements commenced before PA 2023 came into force (ie ongoing procurements). This Practice Note should be read in that context. For background reading, see Practice Note: Introduction to the Procurement Act 2023—PA 2023. Further practical guidance on PA 2023 is set out in a separate subtopic, see: Procurement Act 2023—overview. This includes the following Practice Note: Debarment—PA 2023. When can an economic operator be excluded from tendering for public contracts? The Public Contracts Regulations 2015 (PCR 2015), SI 2015/102, contain a list of mandatory and discretionary exclusions which

STOP PRESS: As of 24 February 2025, the main provisions of the Procurement Act 2023 (PA 2023) are in force. Procurements begun on or after this date must be carried out under PA 2023, whereas those begun under the previous legislation (the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011) must continue to be procured and managed under that legislation. See Practice Note: Introduction to public contracts procurement. This content relates to the Procurement Act 2023 regime This practical guidance is about public procurement under the Procurement Act 2023 (PA 2023). For practical guidance relating to the previous legislation, see Practice Notes: Eligibility and selection in public procurement—exclusion criteria, Debarment for bribery convictions, and Debarment offences—checklist. This Practice Note examines the debarment regime under PA 2023, in particular: • What is debarment? • Grounds for inclusion on the debarment list • Procedure for inclusion on the debarment list • Challenging inclusion on the

A hearing of argument on legal points before evidence is led.

Restructuring and Insolvency analysis: We look at this case on the landlords’ challenge of the Debenhams Retail Ltd (Debenhams) company voluntary arrangement (CVA) where Norris J rejected four of the five grounds for challenge and approved the modified CVA.