For most people the family home will make up the majority of their estate, so it is important that those looking to effect sensible succession planning are fully aware of the potential implications of gifting property to their children. Provided you unconditionally own your property and it is not subject to any mortgage, joint buyer, […]
In the event that a tenant should die, the tenancy remains and in order to bring the tenancy to an end, a notice to quit must be served at the property and a copy notice on the Public Trustee. It is necessary for both recipients to be validly served before valid notice has been given. […]
Ranking of a creditor’s interest against land is crucial to the order of priority of distribution of assets in the event of a debtor’s insolvency. The statutory order of priority shall apply to how the insolvent’s assets are distributed to satisfy its creditors. The statutory Order of Priority is broadly in the following order: 1. […]
With Brexit playing out in Parliament before us and the question of deal or no deal looming, it pays to be prepared no matter what the outcome. Here are 10 steps that you can take to prepare for a no deal Brexit. 1. Check your website, domains and technology providers – do you use services […]
As a landlord, when a tenant refuses to leave or there is dispute over termination of tenancy, one must tread carefully to ensure that the tenancy is terminated pursuant to the contract and the act of taking back possession is carried out lawfully. Without agreement by your tenant or in the event of trespassers, taking […]
Sometimes referred to as “clawback”, overage refers to a sum of money which may be due to a landowner following completion of the sale of land or property. Whether this money is paid will be dependent upon something occurring as agreed (for example, the property being sold for a price higher than a certain amount). […]
Planning permission is only needed if the work being carried out meets the statutory definition of ‘development’ which is set out in section 55 of the Town and Country Planning Act 1990.‘Development’ includes:building operations (eg structural alterations, construction, rebuilding, most demolition);material changes of use of land and buildings;engineering operations (eg groundworks);mining operations;other operations normally undertaken by […]
In an increasingly globalized world, and with an influx of foreign investment into the UK in recent times, it is important for UK based businesses to be aware of their VAT obligations when invoicing for supplies to customers outside of the EU. For an international law firm or any businesses with cross-jurisdictional operations, it is […]
Commercial landlord? Ensure your leases are compliant with new service charge provisions as RICS attempt to tackle unfair commercial lease practices. RICS Commercial Service Charge Code comes into force 1 April 2019. Leaseholds have received a lot of attention over the past 18 months, most of it negative. There is currently an ongoing government consultation […]
The general rule for student properties is that purpose built student accommodation is exempt from the higher rates. Most student properties are less than the current residential threshold of £125,000 meaning there is usually no SDLT payable. If however the buyer is purchasing more than one student property together and the aggregate price exceeds £125,000 […]