Our efforts as conveyancers are usually aimed at completing a new transaction but it must be remembered that as part of that process or equally important to the client in its own right is getting rid of a leasehold interest which for any number of reasons is no longer required.
This process of determination of leases is surrounded by numerous rules and regulations as well as very specific Land Registry demands. Get it wrong and you, or more importantly your client, ends up with a title encumbered with an interest no longer wanted but which stubbornly remains on the register. For example, this may defeat a sale, for instance of the reversionary interest, or encumber a title to prevent a clear report to a mortgagee with the risk of consequential financial loss to your client and lender - a review of the law on this topic may just help to avoid this potentially costly outcome.
What You Will Learn
This webinar will cover the following topics:
- How to make substantive applications to Land Registry in the case of lease determination generally and points to consider in all cases
- What are the different methods of determination
- Merger and the various combinations of interests, both registered and unregistered which may be involved and how to get rid of them
- Beneficial easements affecting the leasehold estate - what will happen to them on merger/ determination of the lease?
- Surrender - by deed, by operation of law, by disclaimer, operation of law and SDLT ramifications
- Determination - by effluxion of time, on forfeiture, by notice, on frustration and enlargement
- Illustrative cases including:
- Salvansen and Riddell & Another v The Lord Advocate (2013) - A Scottish case on the relationship between The Human Rights Act and determination
- PCE Investors Ltd v Cancer Research UK (2012) - payment of rent and effect on operation of break clause
- Rail Safety and Standards Board Ltd v British Telecommunications Ltd (2012) - lack of superior lessor's consent and effect on determination of sub lease
- Aviva Life Pensions Ltd v Linpac Mouldings plc (2010) - can a break clause be personal?
Speaker: Paul Tobias, Solicitor. Paul ran his own High Street practice for many years concentrating on conveyancing of all types. He has subsequently presented many seminars and training courses on various aspects of practice bringing many years of practical experience to his presentations.