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Assignment of lease and landlord’s concent
It is known that the landlord should consent the assignment of a lease. But what is the process followed in doing so, and is he allowed refusing consent without reason? The following discusses aspects related to the landlord’s consent. In … Continue reading
Responsibilities of buyer’s solicitor in pre-contract stage of leasehold transaction
The buyer’s solicitor helping the buyer for the purchase of a sub-lease has to act in a similar manner as any solicitor would when undertaking the purchase of a freehold. He would have to investigate the title and inspect the … Continue reading
Content of pre-contract package in assignment of lease
This article discusses the contents of the pre-contract package to be provided by the seller’s solicitor. General principles The seller’s solicitor should at least provide the following documents for inspection: a) Draft contract b) Copy of the lease c) Evidence … Continue reading
Pre-contract matters in assignment of lease
With respect to conveyancing a lease, the landlord’s (hereafter referred as seller) solicitor shall require the same information that is required for sale of freehold land. In addition to them, he may also require details of the lease. The investigation … Continue reading
Assignment of a lease by the tenant
This article discusses the provisions related to the assignment of a lease by the tenant. When an existing lease is transferred by the tenant for a sub-lease to a sub-tenant this is called assignment. The tenant who assigns the property … Continue reading
Post-completion steps in leasehold conveyancing
This article discusses the process to be followed in different circumstances after completion of a leasehold transaction. Registration Short leases A legal lease for seven years or less cannot be registered with its own title, but it can take effect … Continue reading
Completion process of leasehold conveyancing
In addition or in substitution to the issues relevant to a freehold transaction, a landlord receives the following; a) The counterpart lease executed by the tenant b) Any premium that is to be paid for the grant c) Any apportioned … Continue reading
Grant of lease: Apportionment of rent
The tenant is required to pay a proportionate amount of rent that is calculated from the date of completion and extends up to the next rent collection date, unless completion takes place on the day when the rent is due. … Continue reading
Grant of lease: Engrossment and execution of the lease
A lease is often prepared in two identical parts; the lease and the counterpart. While the lease is executed by the landlord, the counterpart is executed by the tenant. Upon completion, these are exchanged so that each party has a … Continue reading
Grant of lease: Acting for the tenant
The information required by the tenant’s s conveyancing solicitor is the same as that required by a conveyancing solicitor from the buyer in the case of a freehold purchase of land. The draft contract and draft Lease When a contract … Continue reading
Grant of lease: the pre-contract package
This article discusses the contents of the pre-contract package in a leasehold contract. General principles Generally, the landlord’s conveyancing solicitor is required to produce the following documents; a) Draft contract (when applicable) b) Draft lease c) Evidence of the freehold … Continue reading
Grant of lease: drafting the contract
The landlord’s conveyancing solicitor will also have to draft a contract for the lease as and when required. It is drafted in the same way that the seller’s solicitor drafts a sale of freehold property. But the contract must mention … Continue reading
Grant of lease: taking instructions from the landlord
The information required by the conveyancing solicitor acting on behalf of the landlord is almost the same as information required from the seller in the case of a freehold transaction. This article discusses about the process of taking instructions from … Continue reading
Formalities involved in the grant of lease
When residential property is let on a short-term basis, the process to grant a lease is informal and often does not consist of anything except for the fact that the landlord has to take references and present the lease to … Continue reading
What are Commonhold properties?
To solve the problems caused by disposition of leases in interdependent units such as flats, office blocks, shopping centres etc. the government introduced the ‘commonhold’ type of ownership. Under this type of ownership, individual units are held as freehold, but … Continue reading
Landlord’s remedies for breach of covenant
For non payment of rent A landlord who has not received his rent can pursue the following actions as remedy; a) He can initiate a debt action under the Limitation Act to recover the rent. However, this must commence within … Continue reading
Different ways for determination of leases
Leases can be determined in a number of ways. However, most leases enjoy statutory protection that allows them to be terminated in certain prescribed ways. This article discusses about the different aspects related to the determination of leases. Effluxion of … Continue reading
Regulations about liability on covenants in leases
The biggest advantage of lease is that it is possible to enforce covenants between the parties. The underlying principles guiding the liability of these covenants in leases are explained below. Leases granted on or after 1st January 1996 Leases that … Continue reading
Characteristics and types of leases, formalities, and registration
This article discusses about leases in detail; its characteristics, types, formalities and registration. Essential characteristics A lease is an interest in the land that gives exclusive possession to the tenant for a fixed period of time. The most important aspect … Continue reading
Leasehold conveyancing: Grant of lease, Assignment, and Sub-Letting
It is important to understand the different terminologies associated with leasing. This article explains these terminologies in detail. When the owner of the property or the landlord creates a lease in favour of a tenant, he creates the ‘grant’ of … Continue reading
Common illustrations of leasehold property
The residential market Short term residential lettings Short-term letting of residential property refers to the grant of lease for a short period of time such as a full year at open-market rent rates. This lease does not have any capital … Continue reading
Advantages and disadvantages of owning leasehold property
There are several reasons why people decide to sell their property as leasehold as opposed to freehold. The following article explains about advantages and disadvantages of leaseholds. The first major reason could be that there is a readily available market … Continue reading
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