The Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) allows a qualifying tenant to apply for an extension to a lease of a flat. The process is commenced by the tenant serving a notice under LRHUDA 1993, s 42. By LRHUDA 1993, s 42(3) various matters must be specified within the section 42 notice, including at LRHUDA 1993, s 42(3)(f) the date by which the landlord must respond to the notice by giving a counter-notice pursuant to LRHUDA 1993, s 45. By LRHUDA 1993, s 42(5) that date must be a date falling not less than two months after

Section 8(3) of the Housing Act 1988 (HA 1988) provides that a notice in the prescribed form under section 8 must inform the tenant that: ‘(c) those proceedings will not begin later than twelve months from the date of service of the notice.’ Unfortunately there is no definition of ‘begin’

We are not aware of any authority on this specific point. Special condition 1.3.7(e) of the Standard Conditions of Sale (Fifth Edition) states: ‘A notice or document sent by the following means is treated as having been received as follows: (a) by first-class post: before 4.00pm on the second working day after posting (b) by second-class post: before 4.00pm on the third working day after posting (c) through a document exchange: before 4.00pm on the first working day after the day on which it would normally be available for collection by the addressee (d) by fax: one hour after dispatch (e) by e-mail: before 4.00pm on the

Strictly, two consequences could follow from the over-sight: • a maximum penalty of £300 could be imposed on the company secretary under section 17 of the Stamp Act 1891 for registering each share transfer in the absence of certificate 1 being completed on the reverse of the form or the form being duly stamped with £5

This Q&A looks at the priority and transfer of registered charges. Note that the Q&A only considers the transfer and priority of registered charges in the context of registration at HM Land Registry. The basic rule is that the priority of interests affecting a registered estate or charge is generally determined by the date of their creation. This is the effect of section 28 of the Land Registration

Form A restriction A Form A restriction generally indicates that the beneficial interest in the relevant property is held as tenants in common (see Practice Note: Trusts of land for property disputes lawyers—overview). The function of a Form A restriction is to ensure that that interest is overreached on a disposition, and so the standard Form A restriction provides that there can be no disposition by a single registered proprietor unless authorised by the court. Absent such an authorisation, a second trustee would need to be appointed in order to effect any disposition in

For information on the pre-owned assets tax charge (POAT), see Practice Note: Income tax—pre-owned assets. For the POAT charge to apply to land: • the taxpayer must occupy the land wholly or with others, and • either the disposal condition or the contribution condition must apply, otherwise than in an excluded transaction Occupation of land The term ‘occupation’ is not defined. HMRC construes the term quite widely. It certainly includes residence and being physically present at the property concerned but also extends to storage and occasional use when

The response does not consider the tax implications for A of settling the rental property in trust. We refer you to the following Q&As which consider whether a gift of an undivided interest in a share of land is a gift with reservation of benefit for inheritance tax purposes: • Is it a gift with reservation of benefit (GROB) where an undivided half share of a property (that falls under one title and is split as to 1/2 being a basement flat and 1/2 being a commercial premises that is let) is given to the donee

See Practice Note: Individual savings accounts, in particular the section entitled ‘Individual savings accounts—Inheriting ISAs of a deceased spouse or civil partner’. This Practice Note explains that, from 6 April 2015, for deaths which occurred on or after 3 December 2014, a surviving spouse or civil partner is granted an additional ISA allowance (the additional permitted subscription allowance) equivalent to the value of the deceased’s ISA(s). The details of the additional permitted subscription allowance can be found in the Individual Savings Account Regulations 1998, SI 1998/1870, regs 5DDA but the key points are set out in the above Practice Note and the relevant points to this Q&A summarised below: • the additional

A contract is formed where there is an offer, acceptance, consideration and an intention to create legal relations. In this scenario, it appears that all the elements of a valid contract are present. There seems to have been a verbal offer and acceptance, with the payment of a deposit acting as consideration for the item B is selling and also signalling a desire to create legal relations. The fact this is a business to business interaction also suggests that there is an intention to create legal relations. However, it will be important to establish whether the deposit was paid and order made 'subject to contract' in which case the arrangement

It is not necessary for the executors to assent the property to themselves as section 36 of the Administration of Estates Act 1925 enables personal representatives (PRs) to assent to the vesting of any interest in freehold or leasehold land in any person entitled to it. In this situation, B survived A so was entitled to benefit under A’s Will so the asset beneficially belonged to B but was held in trust by C and D. At the end of the administration period for

There would be no gift with reservation of benefit (GWR) in the cash sum under section 102 of the Finance Act 1986. The gift was a gift of cash, so the special tracing rules will not apply. However, there may be a GWR in the holiday home, by associated operations. A GWR may arise if the parent enjoys a benefit from the beneficial interest in the holiday home which has been acquired by the son. The mere ownership of a reduced beneficial interest by the parent,