Implied Terms & Other Traps in Leases - Live at Your Desk
Leases can be tricky, and there are many pitfalls for the unwary. For example, you may be aware of how to draft and amend a lease, but are you aware of the provisions that are implied into a lease without being set out in the document itself?
Some of these provisions will be implied by the common law, others by virtue of particular statutes, whilst some terms will be implied by a court in specific cases.
Such implied terms may have an enormous impact on the relationship of the parties under the lease, changing it substantially from what might be expected from a reading of the actual words of the lease. By way of contrast, many standard lease terms (such as the landlord’s right to forfeit the lease) will not be implied but need to be expressly set out in the lease.
This virtual classroom seminar will focus on implied terms and many of the other traps associated with leases.
What You Will Learn
This live and interactive session will cover the following:
- Concurrent, reversionary and overriding leases - what is the difference and why does this matter?
- What happens if I (inadvertently) grant a lease of premises that I have already let?
- What happens if I (inadvertently) grant an underlease for a term that is equal to, or longer than, my own lease?
- What happens if I extend the term or the demise of an existing lease by way of a deed of variation?
- Issues when granting an option to renew a lease
- What happens if a tenant assigns their lease to their own guarantor?
- What terms are implied in a lease where not expressly stated? (to include quiet enjoyment, derogation from grant, rights and reservations, forfeiture, repair, alterations, user, rent, VAT, rent review, notices)
- Registering leases on assignment and the boomerang lease
- Upwards only rent reviews and rent suspension
- Tenant break options and refund of rent etc. paid in advance
- What happens when the landlord covenants to insure only the demised premises in a multi-let building?
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.