When spouses divorce the court has wide-ranging powers contained under the Matrimonial Causes Act 1973 (MCA 1973). These powers include the making of a property transfer order, transferring a property in the name of one spouse to another, or a lump sum order, requiring one spouse to pay a lump sum of money to the other. The court has the power to make consequential orders, including for the sale of a property in order to satisfy a lump sum order. It is not uncommon however for the spouse in whose name the former matrimonial home is in to contend that the beneficial ownership is

The Agricultural Tenancies Act 1995 contains default statutory arrangements for rent review, which are set out in ATA 1995, ss 9–14. Under ATA 1995, s 10, where Part II applies to a farm business tenancy (FBT), the parties may, by notice in writing, require that the rent payable as from the review date is referred to arbitration. However, parties to a written FBT are free to opt out of these arrangements and to negotiate their own rent review machinery, which may provide for the rent to be varied in accordance with a determination by an independent

A tenancy at will can be ended immediately, on demand to the tenant, without any notice period. A tenant at will has a reasonable

Certain tenants of flats have the right to an extension of their lease, in the form of a new lease granted for an additional 90 years, under the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993). The right is exercised by service of a notice. The notice must be given to the landlord and any third party to the tenant’s lease. ‘Landlord’ means: ‘the person who is the owner of that interest in the flat which for the time being fulfils the following conditions, namely— (a) it is an interest in reversion expectant (whether immediately or not) on the termination of the tenant's lease, and (b) it is either a freehold interest or a leasehold interest whose duration is such as to enable that person

This Q&A is limited to cover the application of the rules for the new residence nil rate band (RNRB) and how they will apply to situations where the inheritance is made subject to an age contingency. This Q&A is provided in the context of a testamentary trust arrangement rather than a trust created during the settlor’s lifetime. The RNRB is a relief from inheritance tax (IHT) that will apply, broadly speaking, where a deceased person’s home is inherited by one or more direct descendants. The RNRB is transferable between spouses and civil partners, in a similar way to the basic nil rate band. It will apply to estates where the deceased died on or after 6 April 2017. The rules are inserted into sections 8D–8M of the Inheritance Tax Act 1984 (IHTA 1984) by section 9 of the Finance (No 2) Act 2015 (F(No 2)A 2015). This response does not consider

Privity of contract 'Privity of contract' is a common law doctrine, which provides that you cannot either: • enforce the benefit of, or • be liable for any obligation under a contract to which you are not a party. Therefore, if an individual legal entity is not a party to a contract (ie they are a third party) then they cannot sue or be sued under that contract. In general terms, the doctrine of privity of contract means that a contract between A and B cannot impose a positive duty on C to render the performance specified in the contract. However, it is possible that a contract between A and B can can provide a benefit for C. Exceptions to the doctrine of privity of contract There are numerous equitable exceptions to the doctrine of privity of contract and a statutory

Originals or counterfeit In this instance the relevant guidance will vary depending on whether the goods in question are genuine originals or counterfeit, and exactly how the goods are being offered for sale. Stolen or misappropriated goods For guidance in relation to remedies available to the owner of stolen goods, refer to Lexis®PSL Corporate Crime module (subject to subscription). The Practice Note on Theft explains the elements of the offence under the Theft Act 1968 (TA 1968). Theft consists of five elements under the TA 1968, s 1(1), which the prosecution must prove beyond reasonable doubt: • dishonest • appropriation • of property • belonging to another, and • with the intention of permanently depriving the other of it Under TA 1968, s 5(1), property belongs to any person who has possession or control of it or any proprietary interest in it. Theft can be perpetrated against a person in control of property, even though they may have forgotten about the property

Situational conflict of interest Under section 175 of the Companies Act 2006 (CA 2006) a director 'must avoid a situation in which they have, or can have, a direct or indirect interest that conflicts, or possibly may conflict, with the interests of the company'. This type of conflict is broadly referred to as a situational conflict. In particular, the duty to avoid conflicts of interest applies to the exploitation of any property, information or opportunity and it is irrelevant for the purpose of this duty whether or not the company could actually take advantage of the property, information or opportunity. The first question should therefore be whether the duty under CA 2006, s 175 is actually infringed by a transfer of shares between individuals. This is a matter for the directors to consider but a situational conflict contrary to the best interests of the company is not immediately obvious. If a situational conflict is identified, the duty is not infringed if

Termination of trusts A trust can be terminated in a number of ways. These include: • termination by any mechanism expressly provided in the trust instrument • the settlor exercising a power of revocation • setting aside the disposition of the assets into the trust • the expiry of the trust period as specified in the trust instrument or the governing law of the trust. The Perpetuities and Accumulations Act 2009 provides that for any trust established after 6 April 2010 the perpetuity period is 125 years. The trust instrument must provide that the property vests within that period, subject to the ‘wait and see’ rule • the exercise by the trustees of their power of appointment. Trustees often have wide powers to appoint assets

On the making of a bankruptcy order, the property of the bankrupt vests in his trustee in bankruptcy. See Practice Note: Bankruptcy. The trustee has a duty to seek to realise that property in the best interests of the creditors. This will involve, in the case of real property, the ascertainment of the interest of the bankrupt in that property, and an invitation to tender for the purchase of that property. Any sale, whether to the bankrupt or to a third party, must be in the best interests of the creditors. See Practice Note: Property that vests in the trustee in bankruptcy on bankruptcy and how the trustee in bankruptcy ascertains the extent of their interest in it. The rules relating

Section 36 of the Trustee Act 1925 (TA 1925) states: ‘Where a trustee… is unfit to act therein, or is incapable of acting therein… then, subject to the restrictions imposed by this Act on the number of trustees,— (a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or b) if there is no such person, or no such person able and willing to act, then the surviving or continuing trustees or trustee for the time being, or the personal representatives of the last surviving or continuing trustee; may, by writing, appoint one or more other persons (whether or not

We refer you to Practice Note: Trust disputes—trustees' removal under section 41 of the Trustee Act 1925, which explains when an application under section 41 of the Trustee Act 1925 (TA 1925) will be appropriate and the procedure for making such an application. The Practice and Procedure section to this Practice Note is copied below for ease of reference and this explains in detail the procedure for making a claim under TA 1925, s 41. In particular, it should be noted that: • a claim under TA 1925, s 41 to appoint a new trustee in place of an incapacitated trustee should be made to the Chancery Division of the High Court (or in the County Court if the trust fund does not exceed £30,000) and not to the Court of Protection as you suggest in your query, and • TA 1925, s 41 does not give the court the ability to remove a trustee without a replacement. In such circumstances, it would be more appropriate for the court to exercise its