The value of land in an estate may need to be ascertained at different times for separate purposes: for inheritance tax (IHT) purposes, the relevant value will be the value as at the date of the deceased’s death and this is generally also the relevant value for capital gains tax (CGT) purposes on a subsequent disposal of the land. However, where land is appropriated to a beneficiary as part of their entitlement to the estate, the relevant value for ascertaining their beneficial entitlement is usually the value as at the date of appropriation. This is unless there has been agreement to the contrary between the relevant beneficiaries of the estate or the Will

The fact that a tenant fails to comply with their obligations under a lease does not, itself, give the landlord the right to end the lease prematurely. However, the landlord may forfeit a lease if it expressly gives them the power to do so. If the right to forfeit is not expressly reserved in the lease, then the landlord may only forfeit if the tenant denies the landlord’s title or is in breach of a condition of the lease, as opposed to the breach of a simple covenant. There are two mechanisms by which a landlord can bring a lease to an end by way of forfeiture: forfeiture by action and forfeiture by peaceable re-entry. Where the lease is in respect of residential

Regulation 4 of the Control of Asbestos Regulations 2012, SI 2012/632 (CAR 2012) (SI 2012/632, reg 4) imposes a statutory duty to assess and manage the risk of asbestos being present in non-domestic premises (see generally Practice Note: Control of asbestos—duty to manage; and, for example, SI 2012/632, reg 4(3) and (8)). Under SI 2012/632, reg 4(1)(a) the ‘dutyholder’ is defined as ‘every person who has, by virtue of a… tenancy, an obligation of any extent in relation to the maintenance or repair of non-domestic premises or any means of access or egress to or from those premises’. This definition therefore catches any party under a tenancy who has a liability for repair. Exceptionally, where a part of non-domestic premises is not the subject an obligation to repair, the ‘dutyholder’ is probably the person who has control of that

There appears to be two issues: • the powers/duties of a deputy to maintain the property of the patient, and • the attitude of the relevant local authority (LA) to the use of the patient’s assets to maintain a property owned by them but occupied by another, albeit a relative in occupation, when a sale would have been ordinarily anticipated It may be relevant

The general principle in relation to this issue was stated by Jenkins LJ in Addiscombe Garden Estates Ltd v Crabbe: ‘It seems inappropriate that a mere licensee should be saddled with an obligation to repair’ Accordingly, licensees are

An interim charging order grants to a court on the application of a judgment creditor the discretion to charge the interest of a judgment debtor in a property (or, more unusually, other property such as shares in a company) as security for the debt. Applications are governed by the Charging Orders Act 1979 (COA 1979) and Part 73 of the Civil Procedure Rules 1998. The process is two-fold. A Judge will consider the application for the charging order on paper and will, if satisfied, make an interim charging order. The court will then fix a hearing to consider whether to make a final

You may find Lexis®PSL Property Practice Note: Buying land from trustees (including co-owners) helpful in relation to the sale of property by co-owners. For further information on the level of capacity required to sell a property, see Practice Note: Capacity to make gifts, settle property and contract, in particular the section entitled Capacity to make gifts, settle property and contract—Capacity to contract. See also the case of Sutton v Sutton which considered the capacity required to transfer land. If

This Q&A assumes that the trading business in this scenario is a company (and not an unincorporated business). Business property relief (BPR) applies to reduce the value transferred by a transfer of value. This applies to both lifetime gifts and property passing on death. Property that qualifies for BPR is called 'relevant business property'. ‘Relevant business property’ includes any land or building, machinery or plant

If A and B were tenants in common in equity, following B’s death, A holds the legal estate on trust for themself and those entitled under B’s estate. An interest under a trust of land can only be protected by a restriction. A restriction makes it apparent from the register that either: • the powers of the relevant proprietor are limited, or • a condition must be met before a disposition can be registered A restriction on the register prevents the registration of any disposition of the registered estate or charge except in accordance with the terms of that restriction. A Form A restriction provides that no disposition by a single registered proprietor can be registered

A discount of 10-15% is commonly claimed (and given) on the disposal value of an asset for inheritance tax (IHT) purposes. See Q&A: Where a co-owner of property dies, what level of discount can be claimed on the value of a deceased co-owner's interest for IHT purposes and how is it claimed? See also HMRC Inheritance Tax Manual: IHTM15072—Valuation of joint property: discounts for joint ownership and Practice Note: IHT—valuation principles and particular types of property. When assessing the

When land is held by two or more persons as tenants in common and one joint owner dies, the legal estate vests in the name of the surviving owners, who hold the same on trust for themselves and the estate of the deceased. A buyer of an estate in land will not be affected by any trusts on which the land is held if the purchase price is paid to at least two trustees, or to a trust

The seller or the prospective landlord must make an energy performance certificate (EPC) available to 'a prospective buyer or tenant' free of charge at the earliest opportunity. See Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regs), SI 2012/3118, regs 6, 13 A person becomes a prospective buyer or tenant in relation to a building when they: • request any information about the building for the purpose of deciding whether to buy or rent the building • make a request to view the building for the purpose of deciding whether to buy or rent the building • make an offer, whether oral or written, to buy or rent the