Under the Leasehold Reform, Housing and Urban Development Act 1993, where a tenant had the right to a lease extension immediately prior to their death, the personal representatives (PRs) may serve a section 42 notice in order to exercise the right to extension. The legislation also provides that the PRs may only serve such a notice within two years of the grant of probate or letters of administration. On the death

As a general rule the chargeable consideration for a land transaction determines the amount of SDLT payable. Chargeable consideration has a particular meaning for SDLT purposes and is defined largely in section 50 of the Finance Act 2003 (FA 2003) and FA 2003, Sch 4. Chargeable consideration includes the assumption or discharge of debt. Subject to certain exceptions, where there is no chargeable consideration no SDLT should arise. One of those exceptions

This Q&A applies where: • the property is in England, Wales or Northern Ireland (not Scotland, where the rules are different) • the nature of the property is such that a sale would be VAT-exempt in the absence of an option to tax (for instance, it is not a new property (the sale of which would be standard rated), and does not come within the scope of zero-rating), and • any option to tax would not be disapplied, either under the relevant anti-avoidance rules or because of the type of property (for instance, it is not a care home) Where a person has exercised an option to tax a property,

Case study The original lease provided that the tenant 'keep in good tenantable repair all doors, windows, etc'. The tenancy was originally for eight years and while section 11 of the Landlord and Tenant Act 1985 (LTA 1985) should not apply, the latest rent register states: ‘Liability for repairs—as agreed between the parties, subject to LTA 1985, s 11’. In general terms, liability for repair of let premises depends on what is agreed, as set out in the tenancy agreement (or any subsequent variation). In addition, it is necessary to take any statutory provisions into account that may be relevant. In this scenario, a statutory tenancy has arisen under the Rent Act 1977 following the

For the purposes of this Q&A, it has been assumed that it concerns commercial property and that the property does not remain occupied by a sub-tenant with renewal rights under Part II of the Landlord and Tenant Act 1954. Where the landlord has carried out works (whether all, or in this case, some) in accordance with a schedule of dilapidations, the cost of the works can be used as evidence of the diminution in value (Smiley v Townshend). However, taking into account the first limb of section 18(1) of the Landlord and Tenant Act 1927 (LTA

The starting point, inevitably, is the precise wording of the covenant. Covenants are individual to each property. It is important to check whether the covenant runs with the land or was a personal covenant with the original purchaser that does not survive a transfer of title. Also, the wording should be checked to see whether an obligation was placed on the original purchaser, or successor in title, which has not been met and which renders the covenant unenforceable. In

Although they both give rise to the same legal end result, the sale of one co-owner’s equitable share in land to another, coupled with the conveyance or transfer of bare legal title to the new sole beneficial owner, is a different transaction, or pair of transactions, to the sale of beneficial legal title to land by the two co-owners to only one of them. While there are a number of situations in which it probably makes no difference which method of sale is used, in some situations the difference will be important and therefore the parties must use the correct method. For these reasons, unfortunately, we do not have any sample wording to assist, but when drafting your TR1, you may find helpful the following commentary

Bankruptcy search Land charge searches are not required for dealings with registered land, however, if title to the property includes a deed of gift or a transfer at an apparent undervalue which was made within the period of five years ending with the making of the bankruptcy application or presentation of the bankruptcy petition, any such disposition is at risk of being set aside as a preference if the donor or transferor becomes bankrupt during that period (see Practice Note: Quick guide to property insolvency). If this is the case, you should also make bankruptcy searches against the donor or transferor

An easement is an incorporeal right enjoyed by the owner of a legal estate (dominant tenement) over land in the ownership of another person (servient tenement) that binds successors in title. It has four essential characteristics: • there must be a dominant

If trustees are to exercise a power to vary the terms of the trust in a manner that would not put them in breach of their duties as trustees, the following factors must be considered: • the exact terms of the power as set out in the trust instrument • the reasons for exercising the power It is also good practice to refer to the settlor’s letter of wishes, if available for guidance. To a certain extent, a power to amend resembles a power to appoint or a power to revoke. Therefore, the general principles which apply to such powers, including the doctrine of fraud on a power, also apply to powers of amendment. See Commentary: • Fraud on the

If a partnership experiences a change in its composition that results in it having only one remaining partner, eg where two people are in partnership together and one of them retires, the partnership will automatically dissolve, because the one remaining partner cannot be in partnership on their own. Therefore, if one of the partners in a two-party partnership intends to retire at the same time as a new partner is admitted, care should be taken to ensure that the admission of the new partner takes place prior to the retirement of the other partner,

The EU Regulation on insolvency proceedings, as it has effect in the law of the UK, does apply here; the retained version of the EU Recast Regulation on Insolvency (now known as the Assimilated Recast Regulation on insolvency) continues to apply post-Brexit, as confirmed by the Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146. In terms of whether these proceedings will be COMI proceedings or establishment proceedings, it depends on the location of the company's centre of main interests (COMI) and/or establishment. Post Brexit, the Assimilated Recast Regulation on Insolvency, Art 3 defines COMI for corporates as follows: • the centre of main interests