A sale of part is when you are planning to only sell part of your property or land. There are far more considerations to take into account for a sale of part than if you are selling the whole thing. Initially, for example, the basic requirement for a sale of part is for the area being sold to be clearly defined, which will need to be done with a Land Registry compliant plan. This is not usually necessary for a transfer of whole. [Read more…]
In the property news recently, it has been announced that the government will be releasing a new register highlighting where an overseas company owns property in the UK. This new register should, according to the government, be ready to go live by 2021. [Read more…]
Whenever we are instructed to sell a commercial property on behalf of a client we often get asked: “What happens next?”. Below we’ve set out the 10 key steps to explain the process of selling a commercial property. [Read more…]
Whilst many people know that transfers of freehold property must be registered at HM Land Registry, a quick search of commonly asked legal questions reveals far more uncertainty surrounding leasehold interests. Here we have supplied answers to some of the frequently asked questions about registration of leases. [Read more…]
Under the provisions of the Housing and Planning Act 2016, all local planning authorities must have published a Brownfield Land Register by the end of last year.
The Brownfield Land Register is split into two parts:
- For sites that are categorised as ‘previously developed land’.
- For sites that are categorised as benefitting from ‘Permission in Principle’ (PiP)
We are all familiar with the threat of cybercrime. Unsurprisingly, the legal industry is a favourite target of fraudsters and criminals. Large sums of money are often transferred between clients, law firms, and banks or other lenders. Scammers prey on the trust between solicitors and their clients. [Read more…]
Part II of the Landlord and Tenant Act 1954 (LTA 1954) affords business tenants security of tenure i.e. the right to a new tenancy on expiry of the current tenancy, on like for like terms, save for a change in the market rent, if appropriate.
Leases can be drafted outside of the security of tenure provisions contained in the LTA 1954 if the appropriate wording is included in the lease at the time of drafting and a certain, strict statutory procedure is followed before the lease completes. [Read more…]
We are regularly approached to discuss a commercial tenants exit options. In this day and age, commercial tenants getting into financial difficulty is not uncommon and we are frequently asked ‘how can I get out of my lease’? Tenants may also want to exit their lease for other (better) reasons i.e. expansion – the premises which they are operating from have become too small, business is booming and they are looking for larger premises.
Fortunately, there are a few options available to tenants who want to ‘get out of a lease’ – some options more attractive and viable than others. These options are explored below: [Read more…]
The High Court has implied a term in an overage clause to give it ‘business efficacy’- showing us that the courts will look beyond a written agreement.
To understand the case of Sparks v Biden, let’s first remind ourselves with what overage actually is. Overage is the term used to describe an additional payment due to a seller of land which is payable after the sale has completed, and which the seller has reserved for itself upon the trigger (by the purchaser and now landowner) of certain events. The seller will usually negotiate an overage where there is an expectation that the land will later be developed and so enables the seller to have a ‘cut of the slice’ after the seller has parted any ownership interest with the land. [Read more…]