Clarkslegal LLP - Solicitors in Reading and London

Real Estate - Legal Updates

Search Legal Updates

Sep
04
2013

Trap for Landlords - VAT on Storage Facilities
#Real Estate

It is well known that there is a blanket exemption from VAT for land and property. Landlords and landowners will be all too familiar with the requirement to opt to tax land and property, in order to bring income and outgoings related to property within the VAT provisions....

Aug
19
2013

Good news for landowners - deposit statement introduced to protect against town & village green registration
#Real Estate

For many years it has been possible under Section 31(6) of the Highways Act 1980 to deposit a statement and map with the local highway authority setting out any public rights of way which are registered as crossing a piece of land. Such a statement has the effect of preventing any new rights of way arising across land for a period of 10 years from the date of deposit....

Jul
09
2013

Guarantor released from obligations under the terms of a lease as it had not been made party to a Licence for Alterations
#Real Estate

In the recent case of Topland Portfolio No. 1 Ltd v Smiths News Trading Ltd [2013] EWHC 1445 (Ch), the High Court held that a guarantor was automatically released from its obligations under the terms of a lease as a result of the landlord and tenant entering into a licence for alterations to undertake works to a property without its consent....

Jul
04
2013

Furnished Holiday Lets will not qualify for Inheritance Tax Relief
#Real Estate

The Upper Tier Tax Tribunal has disallowed a claim for Business Property Relief in respect of a holiday letting...

May
28
2013

Recent caselaw on break clauses - a (rare) decision in the tenant`s favour
#Real Estate

One of the many pitfalls which can arise when negotiating and exercising break clauses in leases is the condition for the rents to be paid up to date at the break date....

Apr
26
2013

Lease Renewal: Who Decides the Terms when Landlord and Tenant Cannot Agree?
#Real Estate

The landlord and the tenant will generally negotiate the terms of a lease on renewal, but if the parties cannot reach agreement, the court will decide on the terms....

Apr
09
2013

Disposing of Charity Property
#Real Estate

Where charity land is conveyed, transferred, leased of otherwise disposed of, the trustees of the charity must consider whether compliance with procedures in the Charities Act 2011 (‘The Charities Act`) is required. The Charities Act consolidates earlier legislation including the Charities Act 1993 and prescribes procedures for disposal of land owned by a charity and statements that must be included in the disposal documentation....

Mar
12
2013

Law Commission opens consultation on rights to light
#Real Estate

On the 18th February 2013 the Law Commission opened a consultation considering the current law relating to ‘rights to light`. The aim of the consultation was to strike a balance between the rights of landowners and the rights of those wishing to develop neighbouring land....

Mar
12
2013

Inheritance Tax Nil Rate Band to be frozen until 2019
#Real Estate

The government has announced that the inheritance tax nil rate band will remain frozen at £325,000 until at least April 2019...

Mar
11
2013

Break clauses - case law update
#Real Estate

Compliance with conditions in break clauses continues to be a difficult area which provides much work for litigators and in which there are frequent new Court decisions....

Jan
18
2013

Introduction to the Green Deal and how it works for commercial property
#Real Estate

The Green Deal was introduced under powers in the Energy Act 2011 and is a funding mechanism for energy efficiency improvements to property. The regulations come into force on 28 January 2013, the Green Deal being designed to help the government meet its carbon reduction targets without the need for consumers to pay up-front for energy efficiency measures. Instead, the works required to improve the energy efficiency of a property will be carried out by a Green Deal Provider and the occupier will pay for the measures under a Green Deal Plan, over time, as part of their energy bill....

Dec
24
2012

What is the meaning of "Good Estate Management"?
#Real Estate

It is not unusual for leases to contain an obligation on the landlord to manage the property "in accordance with the principles of good estate management" which seems to mean little more than "well". It may indicate that the company managing the property should have regard to issues of more than just its own profit but the phrase does not include or refer to any objective standards and there are certainly no "principles" published by the Royal Institution of Chartered Surveyors or any other body....

Oct
18
2012

The Importance of Lasting Powers of Attorney
#Real Estate

Clients should always consider whether they or an elderly relative need to draw up a Lasting Power of Attorney....

Oct
04
2012

New Inheritance Tax Relief for charitable legacies in Wills
#Real Estate

From 6 April 2012, a new inheritance tax relief is available....

Jun
06
2012

What does Vacant Possession mean for a Tenant breaking its Lease?
#Real Estate

Many of you might have noticed the words "the Tenant will deliver up vacant possession of the Premises........" in a break clause in your lease. What does that actually mean?...

May
11
2012

Can I ask my business tenant to leave once the term of his lease has expired?
#Real Estate

Various considerations apply at the end of a business lease and a landlord should be aware of the following If the lease is not protected by the Landlord and Tenant Act 1954 which means that the tenant has no statutory right to renew the lease or to remain in the premises at the end of the term, then the most straightforward way of ensuring that the tenant leaves is to write...

Mar
14
2012

HS2 and Compulsory Purchase
#Real Estate

On 10 January 2012, the Secretary of State for Transport announced the government`s long awaited decision on its proposals for High Speed 2 "HS2"....

Feb
06
2012

All change for the Intestacy Rules?
#Real Estate

When a person dies "intestate", that is without leaving a valid Will disposing of the whole of his or her property, the distribution of any money and other assets among surviving family members is governed by a set of legal rules known as the intestacy rules. These rules date back to 1925 and have not been comprehensively reviewed for over 20 years. At the end of last year however the Law Commission published its review of the rules (Law Com No 331) and draft legislation (the draft Inheritance and Trustees` Powers Bill and the draft Inheritance (Cohabitants) Bill) proposing a number of amendments including giving rights in intestacy to cohabiters equal to those of spouses and civil partners. But what do the proposed changes mean for you?...

Feb
03
2012

A Guarantor or not a Guarantor? That is the question.
#Real Estate

The vexed question as to the extent of a guarantor`s continued liability for a tenant proposing to assign its lease finally came before the Court of Appeal in K/S Victoria Street v House of Fraser (Stores Management) Ltd & others....

Feb
01
2012

Hurry! Get Stamp Duty Land Tax Relief before it disappears
#Real Estate

It is time to act if you are a first time buyer and would like to save up to £2,500 on the purchase of your first property. The Stamp Duty Land Tax (SDLT) "holiday" announced by the Chancellor in his Budget on 24th March 2010 will end at midnight on the 24th March 2012. At present, first time buyers do not pay SDLT on purchases of up to £250,000. Beware - this first time buyer relief is time limited and will end soon....

Page 6 of 7