The qualifying tenants’ right of first refusal under Landlord and Tenant Act 1987 (LTA 1987) applies to ‘relevant disposals’ by a landlord. LTA 1987, s 4 defines a relevant disposal as a disposal by the landlord of any estate or interest (whether legal or equitable) ‘in any such premises’, including the disposal of any such estate or interest in any common

For capital gains tax purposes, including for the purposes of entrepreneurs’ relief, the time of disposal for an asset that is disposed of under an unconditional contract is the time when that contract is made. This means that for shares that are disposed of under an unconditional share purchase agreement (SPA), the date of disposal

It will be necessary to ensure that the identities of all the landlords are known. See Practice Note: Guide to lease extensions of flats under the Leasehold Reform, Housing and Urban Development Act 1993, which states that the competent landlord is the first landlord above the interest of the tenant with sufficient reversion to be able to grant a lease for an additional 90 years in addition to the tenant’s existing lease. The competent landlord should have conducted for the claim on behalf of the other landlords but do bear in mind that a Notice of Separate Representation

Section 57(8) of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) provides: 'In granting the new lease the landlord shall not be bound to enter into any covenant for title beyond— (a) those implied from the grant, and (b) those implied under Part I of the Law of Property

Where there is a third party to the existing lease, or to any collateral agreement, then he must be made a party to the new lease or collateral agreement. However, the third party cannot thereby be required to discharge any function after the term date of the existing lease. However, where it is necessary or expedient in connection with the proper enjoyment by the tenant of the property demised by the new lease for provision to be made for the continued

If shares are sold by an agent acting for the executors (with or without their actual authority) the executors will be liable for capital gains tax (CGT) on any gains from the market value at the date of death and the disposal cost, applying normal principles. If there is a loss as against the value at the date of death, then loss on sale relief may be claimed under Part IV, Chapter III of

Solicitors can charge any hourly rate they wish for their services. However, they will not necessarily recover those rates at a costs assessment. The court will consider the hourly rate charged in conjunction with the guideline hourly rates (GHR). The GHR are intended to assist judges in carrying out summary assessment, but they are widely used as a starting point by the courts when determining the reasonableness of rates claimed on detailed assessment as well. The rates depend on the location of the lawyers carrying out the work and the level of qualification of the fee-earner. For further guidance in respect of GHR, see Practice Note: Guideline hourly rates. Note that the current GHR have been subject to review with a view to revising them. The review was conducted by the

The calculation of the inheritance tax liability (if any) which arises on a ten-yearly anniversary (referred to as ‘the anniversary’ below) of the creation of a relevant property trust depends on (broadly) the value of a hypothetical transfer made by a transferor immediately before that anniversary. That hypothetical value is described in section 66(4) of the Inheritance Tax Act 1984 (IHTA 1984). The imaginary transferor is deemed to have made chargeable transfers in the previous seven years (IHTA 1984, ss 66(3)(b) and 66(5)) and those deemed chargeable transfers include the amounts which were chargeable to inheritance tax (under IHTA 1984, s 65) on a distribution or other reduction in the relevant property in the ten years before the anniversary. The amounts which were

In answering this Q&A, we have assumed that A presently holds the legal title on trust absolutely and intends to transfer the beneficial interests to be held on trust for A and B. This may either be as joint tenants or as tenants in common in such shares as they have agreed. It will be recalled that as a result of section 2 of the Law of Property (Miscellaneous Provisions) Act 1989 (LP(MP)A 1989), a contract for the sale or other disposition of an interest in land can only be made in writing and only by incorporating all the terms which the parties have expressly agreed in one document or, where contracts are exchanged, in each. As the Court of Appeal noted in the recent decision in Rollerteam v Riley, a distinction is to be drawn between an agreement to make a transfer and a document which itself

A restriction on title regulates the circumstances in which a disposition of a registered estate or charge may be the subject of an entry in the register. It will remain on the register until it is cancelled or withdrawn. On a transfer of the whole or part of a registered title which is subject to a restriction, the terms of the restriction must be checked to establish whether or not they 'catch' the proposed disposition. If they do, the restriction must either be complied

Rule 9 of the Land Registration Rules 2003, SI 2003/1417, sets what the charges register of a registered estate must contain. This includes details of leases, charges and any other interest which adversely affect the registered estate and any dealing with those interest. On the transfer part of a registered title, unless it is clear on the face of it that such entries do not affect the part that is transferred, the entries on the charges register of the original title (including any unilateral notices) should be carried across to the new title relating to the transferred part. In the case of a unilateral notice, where it is not clear on the face of the notice

Under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE), where there is a relevant transfer, subject to an employee's right to object to the transfer, the contracts of employment of those employees employed by the transferor and 'assigned to the organised grouping of resources or employees that is subject to the relevant transfer', and which would otherwise be terminated by the transfer, automatically transfer to the transferee and