PP 2 Flashcards

Question

What does 'KEEP a building in repair' mean?

Answer 1

Keeping = PUT in repair. (esp imp if old building)

Answer 2

That they as tenant are not responsible for repairing damage arising from risks which have been insured (since should be covered by insurance premium) 10. Repair 10.1. The Tenant shall REPAIR the Property. (nb not keep in repair) 10.2. The Tenant shall not be liable to repair the Property to the extent that any disrepair has been caused by an Insured Risk unless and to the extent that: (a) the insurance policy is vitiated or insurance proceeds withheld due to an act or omission of the tenant or someone on the Property with the Tenant's authority. (b) insurance cover excluded, limited or unavailable as mentioned in LL's cov to insure.

Answer 3

If they are renting the whole of the property More common that landlord takes out insurance and cost passed to tenant as separate insurance rent (which is what do if lease of part)

Answer 4

- Landlord's covenant to insure property against defined risks (to full reinstatement value) - Tenant covenant to pay insurance policy (often reserved as rent) - Covenant by landlord to reinstate the property (subject to necessary consents) (use money other than for loss of rent) (not obliged identical accom as long as reasonably equivalent) - Rent suspension (up to date repaired or [3] years) - Termination (both parties) (without prejudice rights of LL in respect T's breach of covenants in lease) (who proceeds payable to? usually LL)

Answer 5

- should be insured to **'full reinstatement value'** (so if property destroyed, will be enough to pay for its rebuilding - inc demolition/allowing for inflation etc) - usually contains list of risks which landlord insures against - list often concludes with 'such other risks as landlord may reasonable require' in case new risks arise - should exclude from landlord's obligation to insure: a) risks not commonly available to insure against b) any exclusions/excesses etc imposed by insurer

Answer 6

Tenant ***so will use insurance proceeds to pay but anything not covered by insurance tenant pays***

Answer 7

Often covenant is to pay a sum reserved as rent ('the insurance rent'), which includes: - A premium for insurance policy; and - associated policy covering landlord for loss of rent where tenant unable to use building due to insured risk e.g. (in interpretations) Insurance Rent: in each year the cost of the premium for the insurance of: - The Property, for its full reinstatement cost (taking inflation into account); - Loss of Annual Rent of the Property for three years; and - Any insurance premium tax payable on the above.

Answer 8

Often to use insurance proceeds to reinstate property (rather than absolute obligation to reinstate even if proceeds insufficient) - Ideally tenant want extending so obliged make up any shortfall ***ahh so will use insurance proceeds to pay but anything not covered by insurance tenant pays***

Answer 9

Yes - unless express term to contrary So tenant should try to ensure lease provides for rent suspended during such period if damaged due to insured risk (Landlord usually agrees since can insure against loss of this rent - but often they try to limit for how long they can insure for)

Answer 10

Unless lease states otherwise, frustration only applies in LIMITED circumstances. (no reported cases of it) But lease often gives **LL right to terminate** the lease if impossible to reinstate **Tenant should try to ensure have same right** Esp if time-limited rent suspension - so that if not reinstated by end of that period, it is terminated (otherwise risk paying double-rent, and one for property which can't use)

Answer 11

Reinstate property using insurance proceeds, as paid for by tenant as insurance rent **LL would not receive rent whilst reinstatement taking place but would be covered by separate insurance policy for loss of rent** T would have to find somewhere else but not paying rent and once rent payable again, will probably be able to resume occupation. If they cannot, may be able to break the lease. If no break clause, will have to start paying rent again for property which cannot use.

Answer 12

If the rent suspension period ends and they cannot yet resume occupation Paying two rents Break clause would allow to break lease and not pay

Answer 13

Tenant liable to repair the property under the repairing covenant (nb if tenant liable to repair property and landlord only has right to terminate lease, then no incentive for landlord to terminate)

Answer 14

- who is to insure it - how insurance premium to be passed on to tenant - what will happen to building itself and rent payable if building damaged due to insured risk

Answer 15

- Who is responsible for repairing - Who bears cost (usually tenant) - What the repairing obligations are (sometimes renewal AND improvement)

Answer 16

Tenant able to make any changes it wants (so landlords try to restrict extent)

Answer 17

Different types of alteration e.g.: - Alterations affecting structure and exterior - non-structural interior alterations - alterations affecting service media (e.g. heating, lighting, communication systems) - demountable partitioning (i.e. what separate floors into different rooms)

Answer 18

- May be over all alterations or certain types of alterations - Limited effect as comm prop tenant can use s3 Landlord and Tenant Act to carry out improvements even if lease prohibits

Answer 19

If want to carry out **IMPROVEMENTS**, can serve notice on landlord detailing proposals Landlord has **3 months** to object If objects, tenant right to apply court for authorisation Court authorise if: - adds to letting value of property - reasonable and suitable to characte - does not diminish value of any other property of landlord

Answer 20

add to letting value of property reasonable and suitable to character of property does not diminish value of any other property of landlord

Answer 21

Landlord offer to do themselves for a **reasonable increase in rent.** Tenant does not need to accept. Can withdraw notice. If does, landlord no right to carry out works. But if tenant rejects, court cannot give tenant authority to do works themselves.

Answer 22

3 months Can lawfully carry them out (can also lawfully carry out if court authorises obvs)

Answer 23

Landlord allows non-structural alterations and changes to media But only with landlord consent So they can impose conditions on how works done/whether need to be removed at end of term Conditions likely contained in separate document called a licence to alter.

Answer 24

Prohibits alterations without landlord's consent Statute implies that LL cannot **unreasonably withhold consent** for making ***improvements*** Improvements = **increase value or usefulness** of property to tenant (even if reduce the value of freehold to LL)

Answer 25

Qualified = prevents from making alterations w/o landlord consent (it is implied by statute that won't reas withhold for IMPROVEMENTS) Fully qualified = requires landlord's consent to alterations but makes clear won't be unreasonably withheld (better for tenant due to clarity) - and also means if alteration but not improvement, can still do it

Answer 26

absolute covenant is an absolute bar/prohibition against doing something. e.g. a covenant not to assign the lease qualified covenant requires the landlord’s consent. e.g. cov to assign the lease without the landlord’s consent is an example of a qualified covenant against assignment. A fully qualified covenant is a covenant that requires the landlord’s consent but states that the landlord’s consent will not be unreasonably withheld.

Answer 27

Erect or remove demountable partitioning (ie non permanent walls / segregate building)

Answer 28

i.e. court gave permission Compensation for those improvements at end of term if they inc letting value Provided claim made within time limits However leases often contain tenant's covenant to remove all alterations and reinstate premises at end of term so may be no improvements left to claim compensation for

Answer 29

1. Restrict use to single purpose (e.g. restaurant) :( put off some tenants who want the option 2. Allow change within use class 3. Qualified covenant - change within use class if LL consent - **can unreas withhold** but can't charge fine/higher rent 4. Fully qualified - can only use as something within same use class with landlord's consent which cannot be unreasonably withheld

Answer 30

Yes - can withhold unreasonably STATUTE DOESN'T IMPLY BUT Can't charge fine or increased rent as condition for giving consent, **unless there is structural alteration** involved

Answer 31

planning permission if there are any other covenants on the property

Answer 32

Refers to the different ways of creating an interest in property for benefit of third party

Answer 33

Any way they like - so could dispose of interest to a random third party (via alienation) Unless there is a restriction in the lease (landlord will usually want so they control new occupants)

Answer 34

* assignment * underletting (aka subletting) * charging (aka mortgaging) * sharing occupation (allowing a TP in while continuing to occupy, perhaps under a licence or concession arrangement) * parting with possession (catch-all term covering assignment, underletting but also informal arrangements which may be difficult to classify).

Answer 35

Usually ABSOLUTE covenant against ALL types But then go on to permit certain types of alienation on controlled terms

Answer 36

Rarely: - charging (mortgage) as if they default, lender may take possession/sell - parting with possessions, other than by assignment or underletting Sometimes: - sharing occupation, only with companies in same group and on terms that no tenancy created

Answer 37

When lease granted, possible (subject to terms of lease) to transfer it to someone else (ie assignment) Or allow someone else to occupy building on what is known as a sublease (aka underlease). (e.g. lease granted A to B, assigned B to C, underleased C to D)

Answer 38

Original lease = headlease - with head landlord Underlease = between original tenant (new landlord) and new tenant (under tenant) / created out of headlease. Underlease = an estate in the land. Underlease must be for shorter term than headlease, even if one day - otherwise would be an assignment.

Answer 39

Usually allows assignment of whole property but not of part

Answer 40

**ASSIGNMENT:** S19(1)(a) LLTA 1927 - implies into a qualified covenant not to assign without landlord's consent that will not be **reasonably** withheld - nb CA guidelines on reasonableness S19(1A) LLTA 1927 - LL and tenant CAN agree in advance conditions / **circumstances** in which reasonable for LL to refuse consent (can't then argue they are unreasonable) Section 1 LLTA 1988 - qualified covenant, tenant can make **written** **application** for consent - if does, landlord must give consent unless reasonable not to and written notice of decision

Answer 41

implies into a qualified covenant not to assign without landlord's consent that will not be reasonably withheld therefore converts qualified into fully qualified

Answer 42

Agree **CONDITIONS and CIRCUMSTANCES** where reasonable to refuse consent Not subject to CA reasonableness test (that relates to s 19(1)(a) only) Conditions often: - assignor gives **AGA** - assignee provides **guarantors** Circumstances: - assignor up-to-date with rent - assignee sufficient financial strength to comply with tenant's covenants *so if required to enter AGA as pre-condition, can require to enter, even if it is not reasonable. if no condition, can only require if reasonable.*

Answer 43

if qualified covenant on alienation (of any form - assignment/sublease etc) - T can make **written application** for LL consent LL must then give consent unless reasonable not to; and - written **notice** of decision, also specifying: - if consent subject to **conditions** and what they are - if consent withheld, **reasons** for this

Answer 44

applies only to s19(1)(a) *not 19(1A)* - can refuse if undesirable use or undesirable tenant - can't refuse on grounds irrelevant to reli with W considering subject matter of lease - ** not need prove reasons**, if **reasonable person may have reached too** - may be reasonable to refuse on intended use, **even if that purpose not forbidden by lease** - generally only needs to consider own interests - but unreasonable not to **consider detriment if extreme** and disprop to benefit (so Q of fact on circumstances)

Answer 45

- assignee's **references** unsatisfactory - long-standing breach of **repairing covenant** by assignor and not satisfied assignee would remedy - assignee could **compete** with LL business - would **reduce value** of the reversion (their estate), but unreasonable if no intention selling - usually if assignee proposes to use in way which **breaches terms of lease** (eg user covenant) (consider reas landlord) - intends use in way **detrimental** to premises or in a way **inconsistent** with the landlord's 'tenant mix' policy - assignee would acquire **protection under Part II LLTA** (and assignor doesn't)

Answer 46

- refused to gain advantage for self - *minor breaches* of repair cov - premises: a) been on market for **18 months**, b) rent was significant and c) slight harm to landlord **outweighed by prejudice** to tenant - defo if due to race, sex or disability

Answer 47

What reasonable landlord would do in the circumstances usually reasonable to withhold where assignee proposed to use in breach of terms of lease But refusal on this ground alone sometimes unreasonable in circumstances (court not say what circumstances) Falls on facts

Answer 48

Seek accounts and carry out insolvency searches Against tenant and any guarantor (checked and is LL that needs to do this)

Answer 49

Lease created by someone who is already a tenant When granted, there will then be two leases over same property: headlease and underlease.

Answer 50

1. Property **temporarily in excess** of what they need. 2. Strong property market - may make a **profit** if charging more than paying 3. Better than assignment if **want back in future** or only want to dispose **part** of the property 4. LL won't consent to **assignment** but will consent to underlease bcos **financial concerns** of undertenant (since would fall to headtenant to pay rent to landlord) 5. Tenant concerns of financial strength - If assigned, would likely give **AGA** so liable - But if underlease, can exercise control as if landlord (better and may prevent from defaulting) 6. Can't find anyone to assign to - usually cos lease too expensive - even if underlease at lower rent, some rent covered and undertenant will take on some costs (e.g. insurance and repair)

Answer 51

1. head tenant's lease forfeited and **undertenant**, whose lease would usually come to end at same time, successfully applies to court for **relief** from forfeiture 1. headtenant's lease **surrendered** or **disclaimed** by liquidator 1. both leases expire and undertenant **exercises their right** to stay / apply for new lease under **LLTA** but headtenant doesn't

Answer 52

1. Possible undertenant ends up as their direct tenant 2. Will have limited day-to-day control over property - all the rights reserved to landlord will be exercisable by headtenant - e.g. inspection/serving notices to repair - so will have to go through headtenant to get anything done

Answer 53

In lease: 1. Absolute prohibition on underletting (u can absolute prohibit assignemnt but not comemrcially acceptable to tenants and may mean high rent review) 2. Permit of whole but absolute prohibition of part (more common) - esp apt if: a) building **physically unstable for sub-division** b) don't want to manage multiple Ts If underletting for whole or part, will still require tenant to obtain landlord's consent (ie qualified cov - which will be implied fully qualified)

Answer 54

Lease is at risk of forefetirure and any underlease created out of it could be too Guess its a breach of cov!

Answer 55

**So S19(1A) does not apply** - but often conditions imposed in lease. - S19(1)(a) LLTA 1927 implies into qualified cov not to underlet that won't unreas withhold - S 1 LLTA 1988 where qualified cov re underletting and tenant makes written application for consent, landlord must within REASONABLE TIME: A) give consent, unless reasonable not to B) serve on tenant written notice of its decision, also specifying: - any conditions - any reasons for withholding ^ same as for assignemnt

Answer 56

1. terms of underlease mirror terms of headlease (assures not watered down) 2. annual rent at least as high as headlease 3. rent reviewed at same time and on same terms as headlease. (so if underlease becomes main lease, no lost income) 3. Underletting must exclude s 24 - 28 part II Landlord Tenant Act (so won't get stuck with undertenant) 4. 'direct covenant' to perform headtenant's covenants, except headlease rent 5. No further underletting permitted

Answer 57

An annual rent and tenant's covenant to pay it

Answer 58

- When it is payable (although call it 'annual rent', usually spread across the year in quarterly instalment) - if rent should rent be paid in advance or arrears (arrears if silent) - how instalments will be apportioned (esp where rent payable from completion, which is between rent due dates) - how rent paid (e.g. direct debit) - VAT if / how arises and who will pay - Review of rent (rent can't change unless express provision permits)

Answer 59

headlease rent might be rly high / falling property market issue for headtenant who wants to underlease and undertenant who would have to pay so instead condition that must be at market rent

Answer 60

Arrears (after period it relates to i think) Advance (before period relates to i think) Advance is better because LL gets it earlier and avoids risk of discovering at end of period when a bit too late really that tenant can't pay

Answer 61

Mechanism where annual rent payable under lease is periodically assessed. - fixed increase - index-linked - tenant's receipts - open market rent review - upwards-only market rent review

Answer 62

provides that at various set dates throughout rent term, it will increase to a set amount (eg will be 30k for first five years, 35k for next five) :) certainty and simplicity :( difficult to predict what levels will be in future

Answer 63

Rent linked to external index, e.g. retail prices index Often have 'cap and collar' - limits percentage increase but ensures a minimum increase :) Alter rent in line with inflation :( Doesn't track specifically property market so may not be accurate

Answer 64

Link to tenant's receipts from use of property Usually re their turnover but could also link to other receipts e.g. profits or sums received from subletting :) LL incentive to help tenant's trade tracks financial health :( bad for LL if business slow

Answer 65

Open market - most common of all rent reviews: - Rent adjusted at regular intervals (usually every 3 - 5 years) - Based on the open market rental value of premises at time of review Upwards-only open market rent review *market norm* - checks market value but rent will only go up or stay same - will be higher of rent review or current rent (so can never reduce)

Answer 66

Valuer conducts hypothetical assessment (i.e. assuming vacant) what property would be valued at on open market on rent review date. Considers: - physical property; and - terms of lease (e.g. lower if onerous) Well-drafted rent review should make certain assumptions/disregards. (e.g. vacant - sep queue card)

Answer 67

- 'willing LL to willing tenant' - tenant 'vacant possession' - 'on the TERMS of this lease other than as to amount of annual rent but including provisions for annual rent review' (T would pay more for no rent review) - 'for a term of {x} years' (lease specifies how many years) (may be unfair to review as if say 15 years left when only 5 - certain market conditions would inc value / others would diminish) (could say it is for same term which is remaining on actual lease, but provide a minimum term in case close to expiry of lease) - 'on the assumption that tenant fully complied with their obligations' (so can't profit from breach) - 'on assumption that if property been destroyed or damage, has been fully repaired'

Answer 68

- 'any effect on rent of the fact that the tenant has been in occupation of property' (disregard tenant's occupation - so can't argue would pay higher rent to avoid relocation) - 'any **GOODWILL** attached to the property by reason of any business carried out there by tenant' (eg regular flow of customers/good reputation should not result in higher rent) - Any effect on rent attributable to physical **IMPROVEMENT** by tenant (with consent/not pursuant to obligation of landlord) (i.e. VOLUNTARY works)

Answer 69

1. Level of rent - usually includes that rent can only stay same or go up after review, never down - often provides that rent will be whichever is higher, the rent before the review or the open market value 2. Frequency of review 3. Instigating the review formal vs informal - usually via sep valuers (see sep queue card) 4. Independent determination - if parties fail to agree revised rent, lease should contain provision to refer to independent TP - usually (RICS)

Answer 70

1. informal (traditional) - ping-pong of notices / counter-notices - would eventually agree - often disputes and unfairness e.g. LL makes initial high offer and T doesn't respond in time, stuck with that offer 2. formal (more common) - negotiate via specialist valuers (e.g. RICS) - **time not of the essence:** do not have to sort before new rent is due - usually provision that pay existing rent with interest for any delayed increase once sorted

Answer 71

Voluntary code of practice for landlords Tried to introduce fairness and flexibility by advocating: - giving tenants choice of leasing terms - **relaxing alienation** provisions - **restrictions** only imposed where **necessary** to protect landlord's interests - **AGAs** only required where incoming tenant **lower financial standard** than outgoing

Answer 72

When negotiating the terms of a lease, RICS surveyors must comply with certain mandatory requirements in the code Only depart best practice if justifiable good reason Otherwise may get negligence and disciplinary action

Answer 73

1. lease negotiations **constructive and collaborative** manner 2. if party not represented by RICS or other property professional, **advise of code** and recommend prof **advice** 3. Record transaction terms in writing and summarise specified details *think just ensure draft lease includes the following* (specified details relevant to this chapter are: - details of premises and special rights over it - length of term - amount / frequency of rent - insurance payment liability - ability to assign/underlease/charge/share - repair, use and alterations) - *baso just stuff would expect in lease ^*

Answer 74

(can depart in exceptional circumstances) - identity of property clearly defined, lease plan provided and tenant granted necessary rights for intended use - state **length of term** and any **break** provisions - lease should **allow either party to start rent review** process - leases should contain standard provisions for **assignment/underletting** etc - **repairing** obligations should be **appropriate** to lease/property - controls on alterations/change of use **not overly restrictive**

Answer 75

CLAUSE ITSELF: - allow to **enter and inspect** property to check compliance with REPAIR covenant MEANS: - give tenant **notice** that repair required and in what **time frame** - if tenant does not within specified period or taking too long can enter, do work themselves and recover cost as a debt from tenant :) can recover as debt instead of damages claim, so avoiding statutory limitations e.g. recoverability and Leasehold Property Repairs Act

Answer 76

- references from a previous landlord - rent deposit - parent company guarantee

Answer 77

By-pass the contract (ie agreement for lease) and proceed straight to completion by granting the lease itself to avoid further costs (since they are already financially committed

Answer 78

Delay between agreeing and granting but require other party to be bound e.g. - landlord carrying out works and wants to know will be rental income to offset costs - tenant carrying out works prior to grant - landlord needs consent from TP before granting - landlord negotiating surrender from current tender and wants to tie it in new lease - tenant needs planning permission

Answer 79

V similar freehold contract: - Particulars of sale a) Property is leasehold b) term - Obligation to take lease/underlease in form of final agreed lease on completion - Any incumbrances affecting freehold title (will impact tenant as would a buyer) ^ apart from that should be like a freehold contract - Final agreed lease attached (required by SCPC) -Indemnity in lease itself re breaches of covenants

Answer 80

5 working days before completion Engrossed means signed (fyi The landlord signs the lease to show his readiness for completion and the counterpart should be sent to the tenant’s conveyancing solicitor. This should be sent at least five working days before contractual completion date for execution by the tenant.)

Answer 81

whether the landlord’s mortgage permits the grant of a lease.

Answer 82

If freehold unregistered, absence of title will prevent tenant registering/obtaining absolute leasehold title Any event, want to know if anything on title which will bind them. Especially if: - paying premium for lease - property being offered as security for a loan (ie giving their lease as security for a loan) - paying signif rent

Answer 83

Not unless granting lease for term of **more than** 7 years. (if for over 7 years, standard conditions requires LL to deduce as would enable to obtain absolute title)

Answer 84

HEADLEASE TITLE - no need if headlease **registered** with absolute leasehold title - but would need to see **headlease itself** and **official copies** for headlease title If headlease unregistered, entitled under law to: - **call for copy of headlease** and any subsequent **assignments** under which headlease been held for last **15 years** FREEHOLD - only entitled call for deduction **FREEHOLD** title if underlease for **over 7 years** (unless headtenant excludes in lease) (good idea if never deducted from LL)

Answer 85

requirement to deduct freehold title in contract to underlet if headtenant did not ask for LL title when took headlease by special condition nb: undertenant only able to request freehold title if underlease for over 7 years

Answer 86

Same as for freehold (e.g. evi of title sent by landlord's solicitor and investigated by tenant's solicitor) But some additional **enquiries** e.g. landlord's insurance policy And solicitor must warn about **forfeiture risk** ONLY ENTITLED TO DEDUCE FREEHOLD TITLE IF FOR LEASE OF MORE THAN 7 YEARS

Answer 87

- Draft agreement for lease (if applicable) - Draft lease/underlease - Evi of title - Copies of any planning consent - Evi of lender's consent to grant (if applicable)

Answer 88

alienation covenant for the terms on which underletting is permitted.

Answer 89

Lease for **MORE THAN 7 years** ^ if agreement for lease, SC/SCPC provide for this But most LLs happy to deduce anyway If registered, will be able to search title under Open Register anyway If unregistered, absence freehold title prevent lease getting absolute title

Answer 90

Licence to underlet Tripartite document entered into by LL, head-tenant and undertenant. Main provisions = - consent of head-landlord - direct covenant undertenant to head LL - (usually) obligation headtenant to pay head LL costs for granting LL gives consent, either by or on completion of underletting - or else headtenant likely in breach

Answer 91

Direct covenant between undertenant and head-landlord to perform covenants in underlease and headlease Allows head-landlord to sue undertenant for any breaches of headlease or underlease. **Except for non-payment of rent of headlease**

Answer 92

1. Lease executed by the landlord and given to the tenant; 2. Counterpart executed by the tenant and given to the landlord. Completion

Answer 93

LL sign before completion (because giving consent so otherwise head tenant could be in breach) Counterpart send to **tenant**'s solicitor for execution by tenant **at least 5 working days** before completion

Answer 94

Proportionate amount which represents the amount due between date of completion until next rent payment date (cos it's unlikely to be a full period) And that would likely mean paying (at least this payment) **in advance** not arrears (so apportion how much is due between completion and next rent payment - I think calculated at daily rate)

Answer 95

as well as same stuff in freehold transaction: tenant/undertenant gives: - counterpart lease/underlease (executed by them) - any premium payable (ie lump sum payable at start of lease/underlease) - apportioned sum of rent payable in advance LL gives: - executed lease or underlease - if not already, evi of title (if entitled) - certified copy of their lender's consent (if app) - (underlease and not already provided) consent - usually via licence

Answer 96

Potentially on capital sum (i.e.** 'premium) **and **rent** itself. 1. SDLT payable on PREMIUM - only for comm prop/mixed use - calculated on same basis as freehold (see PP1 queue cards) *think about how high the amounts are for u to pay SDLT on freehold - would have to be really high premium!* - Rent: calculated on Net Present Value (NPV) - Only on VAT inclusive amount of premium / rent (so must check if VAT even chargeable in first place) honestly so confused

Answer 97

Land transaction return to HMRC (SDLT/LTT payable on any premium paid for grant of lease and rent reserved by lease)

Answer 98

- Work out how much rent will be payable over total term of lease, inc any VAT - Discount any future rental payments by 3.5% per annum On that figure, SDLT is charged at: - 0% for first £150k - 1% £150,001 - £5m - 2% above £5m

Answer 99

Non-resi (ie comm prop/mixed use) Similar SDLT (on premium and rent via NPV) except: - If relevant rent (ie highest payable annual rent under lease) is over £13,500, LTT payable on PREMIUM will be 1% (instead of 0% which would be LTT payable on freehold) LTT chargeable on NPV at: - 0% up to £225k - 1% £1,225,000 - £2m - 2% over £2m

Answer 100

- Over 7 years: must be registered with own separate title, regardless of whether the landlord's title is registered - 7 years or less but more than 3 years: not possible to register but if more than 3 years, may be NOTED voluntarily on landlord's registered title - 3 years or less: cannot be noted on landlord's registered title

Answer 101

Registered land: - Legal lease for 7 years or less, regardless of actual occupation ^ means lease binds future owners, regardless of notice (if over 3 yrs, can note voluntarily against LL title) 2. Unregistered - legal lease binding subsequent owners regardless of notice

Answer 102

Unregistered: within 2 months of completion Registered: within priority period of OSR1 search result

Answer 103

Registrar satisfied title is sound but no access to superior title Will give if: A) unregistered and applicant either did not submit evidence of title B) registered with less than absolute title

Answer 104

1. Effluxion of time expires due to passing of time, rather than event/notice (end of fixed term) 2. Notice to quit (periodic) (sep LL queue card) 3. Surrender (tenant gives up, LL accepts and deed) 4. Merger tenant acquires landlord's estate; or TP acquires lease AND reversion both cases - lease automatically merges with reversion and extinguished (unless expressly preserve lease)

Answer 105

If tenancy protected by S 23 1954 Act May continue until terminated via provisions in Act (so may be terminated before end of fixed term etc)

Answer 106

- Must be a tenancy (not a licence) - Occupied by tenant (personally or through agent/manager) (won't be protected if vacated tenancy) - For business purposes (inc things like running tennis club if carried out by body of persons) Unless exceptions apply (separate queue card)

Answer 107

1. Tenancies at will (either party can terminate any time) 2. Fixed-term tenancies **6 months** and under UNLESS: - business occupied for **over** 12 months (despite successive 6 month leases) - tenancy contains provision **allowing renewal or extension** beyond 6 months (nb tenant could reject successive 6 months - may contain provision in first lease that have to keep second - but if contains that, falls in act) 3. Certain agricultural, farm and mining tenancies 4. Fixed-term - may contract out expressly agree tenant won't be protected under act - must follow statutory notice procedure before lease granted - LL give notice in prescribed form - T declares received notice in prescribed form and agrees - if given notice under 14 days before grant, form in presence solicitor - reference to notice on lease

Answer 108

- tenancy does not end unless terminated in accordance with the Act - even if terminated under act, tenant can apply to court for new tenancy which LL can only oppose on certain grounds

Answer 109

1. Landlord notice served under s 25 2. Tenant requests new tenancy under s 26 3. Forfeiture 4. Surrender 5. Periodic - tenant giving landlord notice (LL cannot give to tenant) 6. fixed term - tenant can terminate on contractual expiry date by serving s 27 written notice on LL 3 months before contractual expiry date (but LL cannot serve notice) 7. fixed-term - by tenant ceasing occupation for business purposes at end of term (s 27(1A)) (enables to end by effluxion of time) (fyi i double checked and this is defo fixed-term only)

Answer 110

- At end of contractual lease, tenant can remain in occupation - Call this a continuation tenancy - can go on indefinitely until 1954 Act ends - Tenants would have the right to go to court and say I want a NEW lease - Procedural nature of 1954 Act makes it difficult for landlords to terminate ○ Only do so on certain grounds Even if succeed in kicking them out, they may get compensation

Answer 111

Lease - landlord executes Counterpart lease - tenant executes

Answer 112

LL needs to supply: ○ EPC, draft lease and draft/evi of title to tenant Tenant needs to: ○ survey, searches and enquiries ○ once received evi of title, investigate and requisitions ○ Consider and amend draft lease LL: ○ reply enquiries/requisitions ○ consider amendments / return second draft ○ obtain lender's consent to lease Tenant: ○ Approve second draft Landlord: - engross lease and counterpart (T check engrossed counterpart) LL executes lease. T executes counterpart. Tenant: - pre-completion searches [completion] - T pays any apportioned rent and SDLT - T register if over 7 years

Answer 113

Yes so even if disrepair caused by inherent defect which caused by construction can fall to tenant to repair under their repairing covenant, esp if this is the only way they can be sorted this is because regardless of whether repairs are inherent effects, Q is always about whether what asking tenant to repair would involve giving landlord wholly diff thing. that is a Q of degree

Answer 114

Repair = must be disrepair before can breached and physical condition must have deteriorated (not need perfect - reasonable tenant) CONDITION = unlike repair, can mean obliged to carry out some works, even though there is no disrepair condition is a broader term to include deterioration that is not caused by damage. It is therefore not enough for a tenant to simply repair damage caused to the property during the term of the lease if the repairing obligation includes keeping the property in good “condition”. In this case they must go beyond repairing to ensure that the condition of the property meets the landlord’s expectations.

Answer 115

**restoration by renewal or replacement of whole** (rather than part of whole) consider whether tenant would be giving back wholly different property than one leased Q of fact and degree consider age / nature property and lease itself

Answer 116

Often provide that the underletting must exclude relevant parts of LTA so they cannot stay and renew. (contracting out) Want to avoid headtenant leaving property and undertenant exercises those rights to remain in property after contractual term

Answer 117

New lease = just current tenant and old tenant if gave AGA (AGA only lasts for period of relevant assignee's ownership) Old lease = - T1 liable due to privity of contract; - T2 liable due to privity of estate; OR - BOTH ; - could instead or also sue any intervening tenants (if assigned land) in privity of contract (if provided direct covenant) (T1 remains subject to burden but not entitled to benefit. But T2 also liable because privity of estate). Old lease if executed prior to 1 January 1996 (NB may also be a tripartite agreement so all have privity of contract)

Answer 118

Take action via: 1. Common law action (recover amount paid from T2 for amount discharged T2 liability for) 2. express indemnity covenant within deed of assignment 3. if no express indemnity covenant, will be implied by statute

Answer 119

No But landlord has discretion to vary terms

Answer 120

Usually not. (as lease unlikely to have any capital value). If premium is payable, will usually be a comparatively low sum. LL - would need to be condition of grant of underlease unless lease itself allows.

Answer 121

Investigate title (as would for freehold) - check superior freehold AND leasehold - disclose any incumbrances in contract Prepare pre-contract package Apply for LL consent and provide undertaking for LL's COSTS

Answer 122

- check landlord's consent been obtained - get copy of original lease - liaise assignor to see what details LL will need (e.g. references from some or all - current LL, bank, employer, professional person) - raise pre-contract searches and enquiries (inc insurance and last rent receipt to check no outstanding payments) unless only short period left, might not be worth cost - investigate title of leasehold and SOMETIMES freehold - approve draft contract

Answer 123

A) approve purchase deed B) prepare purchase deed (TR1 or deed of assignment) Raise pre-completion searches C: - agree form of licence to assign with LL

Answer 124

Usually yes - alienation covenant will state whether required (assignor needs to apply for consent)

Answer 125

LL solicitor's require from assignor's solicitors That legal and other professional costs of LL in considering assignment and licence to assign will be covered by assignor (make sure got assignor's authority to give and limit to reasonable costs incurred / cap on costs / try to get money on account)

Answer 126

By or on completion of assignment

Answer 127

*can exchange before obtained consent. assignor may be in breach of assignment if LL consent not given before completion.* **SCs:** - 3 letters. 3 days. EITHER party may rescind by notice if LL consent: a) not given **3 working days** before **completion**; or b) by that time, consent given subject to condition which **buyer reasonably objects** to **SCPC:** - scpcs is 5 letters. 5 days. - If LL consent not obtained by completion date, **completion** will be postponed to **5 WORKING days** after assignor **notifies** assignee that **consent** has been given - BUT contract can't be rescinded until **6 months** passed from original completion date. (so a bit of safety for the assignor) ^ After that, either party can rescind by notice.

Answer 128

Tripartite agreement Between LL, assignor, assignee (and any guarantors) LL provides consent to assignment In form of deed

Answer 129

Landlord's solicitor Assignor's solicitor coordinates with assignee's solicitor to amend and agree

Answer 130

- If 1 Jan 1996 onwards - assignor typically give AGA - If before 1 Jan, direct covenant from assignee to LL to **observe and perform** covenants - LL consent and any limits to consent often consent time limited - eg assignment must take place in three months - assignor pay LL legal and professional costs

Answer 131

With assignee Under privity of estate, liable covenants which touch and concern the land - but only for as long as lease remains vested in assignee So can extend that liability by requiring enter direct covenant to observe and perform covenants **for remainder of term of lease** (so have privity of contract AS WELL AS PRIVITY OF ESTATE) Can use licence to assign to do that

Answer 132

Lease itself likely contain detailed conditions before LL consent given Assignor enters into AGA, guaranteeing assignee will perform their covenants Any direct covenants which LL requires from assignee should be limited to period in which assignee is actually tenant, not remainder of term. (no privity of estate in new leases)

Answer 133

Covenants by assignor that: - assignee will perform tenant's covenants, inc rent - will perform if assignee doesn't - indemnify LL for assignee's failure to observe any covenants - promising to take new lease if assignee insolvent and it is disclaimed

Answer 134

- provision in lease that is a pre-condition - otherwise, only if it is reasonable

Answer 135

They are not liable beyond being assignee So if it is assigned again (and assignee's liability is discharged), then so is assignor's liability

Answer 136

**REGISTERED** 1. Absolute title - use official copies of register and title plan - no need for assignee to investigate since guaranteed by LR 2. Good leasehold title - means there is no guarantee as to FREEHOLD - assignee not entitled under general law to require FREEHOLD but will likely ask - if u don't deduce, likely unacceptable to assignee/lender **UNREGISTERED LEASE** - assignee entitled to call for **lease** itself and assignments under it from **last 15 years** - but can't call for evi of freehold title - without evi of freehold, can only register with good title **For all:** - if freehold is **registered** with absolute, no issue as can search open **register** - Otherwise, would have to deduce usual way for unregistered land - standard conditions/general law don't require **assignor** to deduce **freehold** title - would need a special condition

Answer 137

No Assignor's solicitor will be able to prove with official copies and title plan in usual way

Answer 138

Assignment always by deed.  TR1 if: - registered (regardless of how long left). - Good practice to use if unregistered with over 7 years left to run (as will trigger first registration) - but not compulsory  Deed of assignment if unregistered - Always 7 years or less

Answer 139

Covenants for title: Under statute, assigned with full or limited title guarantee, thecovenants for title include an implied promise that the assignor has complied with tenant's covenants in lease (inc repair) Caveat emptor: Assignee is responsible for checking state and assignor not responsible Resolve: Modify covenants for title to **exclude references to repair** - covered already in standard conditions - but the **transfer deed** should be expressly modified

Answer 140

Pre 1996 leases - express needed if: - **unregistered** lease AND **no value** given by assignee (if required by contract - which standard conditions do permit) - ^ except for that, indemnity from assignee implied Post-1996: - only if AGA (otherwise assignor automatically released)

Answer 141

Assignor won't usually require cos automatically released from liability. However if still liable cos entered AGA, include. Both sets of standard conditions account for this ^. (so only bother indemnifying if AGA)

Answer 142

(same as usual) 1. Registered - OS1 2. unregistered - Land Charges search 3. company search

Answer 143

Landlord's solicitor

Answer 144

If contains covenants

Answer 145

If covenant from assignee to LL LL executes original licence Assignee executed counterpart Then they swap (and assignee forwards on to assignee)

Answer 146

Assignee reimburses assignor for period from completion until next rent date (cos assignor probs paid in advance for a full period, but only lived in it for part of that) And any other amounts they want reimbursing eg insurance premium Assignor should supply assignee with **completion statement** re amounts due and how calculated + copies of any receipts.

Answer 147

hand following DOCUMENTS a) lease b) transfer deed c) licence to assign executed by LL d) evidence of freehold title if required e) evidence of mortgage discharge f) copies of notices served on LL g) insurance policy h) receipt for rent paid/anything else want reimbursing

Answer 148

PAY assignor balance of purchase price and any other sums e.g. apportionment hand over following ITEMS to assignor (if relevant): - money due in accordance with completion statement - executed counterpart licence to assign - release of deposit (usually only if paying a premium)

Answer 149

Once receipt for last rent due been produced Provided there is nothing indicating otherwise

Answer 150

Only on any purchase price charged by assignor (same procedure as if freehold) NOT due on rent

Answer 151

1. If **lease** already registered - apply for registration of assignment within OS1 priority period (regardless time left on lease) 2. If unregistered lease A) over 7 years unexpired: register within 2 months (only absolute title if evi of freehold title) - if **freehold** already registered, lease will be noted against freehold title - otherwise, can lodge caution against first registration if u want B) 7 years or less: incapable of registration with separate title

Answer 152

From ASSIGNEE to landlord Completion If lease requires (standard provision) Should be given a copy accompanied by any required fee LL sign one copy as knowledge of receipt and return to sender to keep with title deeds

Answer 153

Buyer/assignee Ohh yep cos it's like please now we've done contract it is my turn !

Answer 154

False Other way round Can dispose unless lease restriction prevents

Answer 155

No. generally just whole. buildings usually unsuitable for legal and physical division. & admin of having multiple tenants.

Answer 156

Tenant continue paying rent at existing rate and **pay interest on any shortfall** when new rent agreed

Answer 157

assignee puts money in bank account and no one touch until assignee says I can't afford my rent - then LL can draw from rent deposit (sometimes a condition to assigning)

Answer 158

generally yes fair enough but consider reasonable LL in those circumstances ashworth v fraser

Answer 159

assignor 1. clause in licence often 2. clause in lease 3. often undertaking that not doing anything unless tenant pays.

Answer 160

Is a covenant to pay rent

Answer 161

1. Action in debt (non-payment rent) 2. Commercial Rent Arrears Recovery (CRAR) (enter and seize) 3. Forfeiture (termination) 4. Pursue guarantors and/or rent deposit

Answer 162

- cannot remove goods up to **£1350** which are **necessary for tenant's business** - can't remove items which are hired or leased - can only use to pay rent - not other payments eg insurance (even if lease treats such payments as rent) - comm prop only - 7 days notice intention, 7 days rent due and 7 clear days notice of sale at public auction

Answer 163

- may be guarantor for current tenant or past tenants who remains liable - may be better option if current tenant is in financial difficulty - guarantee must be in **writing** and will oblige guarantor to: 1. **pay rent** and any other sums due; and 2. **remedy or indemnify** against loss caused by any T's breaches of covenants

Answer 164

1. Guarantor of current tenant - sue in same way as current tenant 2. Former tenant - if **old lease**, guarantor of former tenant **remains liable** - **new** lease, only if required to guarantee outgoing tenant's obligations under an AGA (so if they joined the AGA) ^ don't re-read textbook this is right

Answer 165

To pursue ***former*** tenant or guarantor of a former tenant (regardless old or new lease): serve default **notice** on former tenants OR their guarantor if intend to recover fixed charge (e.g. rent) within **6 months** of breach Former tenant or guarantor may then call for **'overriding lease'** (i.e. headlease between LL and former tenant or LL and former guarantor) making **former tenant/guarantor the LL** of the defaulting tenant

Answer 166

- may have required deposit - RENT DEPOSIT DEED usually sets out: a) the amount, b) when LL entitled to keep c) when repayable to tenant d) if LL withdraws, T will be liable to **top up** e) that deposit will be returned to T at end of term or on assignment - LL can withdraw soon as tenant breaches lease covenant - **no court action required**

Answer 167

Continued reli with tenant Likelihood problem recurring in future Relative cost of procedure Time will take eg threat of forfeiture proceedings may persuade Tenant to pay or at least come to an agreement with the landlord about how the arrears will be paid off in future.

Answer 168

*dont worry about section numbers* 1. Section 18 LTA 1927 - damages limited to amount by which LL **freehold has diminished in value** due to the disrepair 2. Leasehold Property (Repairs) Act 1938 - leases **over 7 years with 3 years or more** left - LL must serve **notice** on tenant that seeking **damages** and notifying of their right to counter-notice - T can serve counter notice within **28 days ** - if T does, LL cannot proceed w/o leave

Answer 169

Only for failure to repair And where other remedies not adequate Rare - damages usually adequate. Allowed in past where: - no forfeiture or self-help clause - damages were not adequate because condition of property deteriorating - order wasn't being sought to harass or pressure

Answer 170

1. Specific performance 2. Damages 3. Jarvis v Harris / self-help clause 4. Forfeiture Also consider if there is an AGA if assignment (s17 notice not required if for covenants other than non-payment of rent)

Answer 171

Jervis v Harris

Answer 172

7 years or more - 3 years left After LL served s 146 notice, tenant has right to serve a counter notice within 28 days. If tenant does this, LL can only proceed with forfeiture with the leave of court.

Answer 173

146 Forfeiture breach of covenants other than non-payment of rent (regardless of how long left) specify 1. breach 2. reas timeframe for remedy, if capable 3. require compensation If T does not comply, forfeit by peaceable re-entry or court order - T can apply for relief if DISREPAIR and over 7 yrs and AT LEAST 3 yrs left ^ include right to serve counter-notice within 28 days - if T serves, LL only proceed w leave of court

Answer 174

Non-payment of rent: - if not paid in time period within forfeiture clause - make formal demand, unless lease dispenses of this - peaceful re-entry or court order - LL can waive right Breach covenants - s 146 notice - if doesn't comply, peaceful re-entry or court order - tenant can then apply for relief - if lease 7 years or more with over 3 yrs remaining, tenant can serve counter notice

Answer 175

:) - might recover some money to do repairs upfront - can be comparatively quick - if tenant is solvent, LL will get some money and lease will continue :( - litigation spenny - limited diminution in value of reversion (may not cover cost of repairs) - special procedure similar to forfeiture - may not get award / legal costs if tenant in financial trouble (even if win!)

Answer 176

:) - don't need to go to court and work is done - statutory limitations don't apply if remedy is for a debt :( - LL has to bear the initial costs and may not recover if tenant in financial difficulty

Answer 177

1. forfeiture (no need for s 146 notice to include notification of tenant's right to serve counter notice) 2. Injunction for breach / anticipated breach of negative covenant e.g. user covenant/assignment 3. Specific performance - only where positive obligation v precise and performance/supervision not required - damages must not be adequate 4. damages (usual contractual rules) 5. Former tenant or their guarantor 6. Deduction from rent deposit deed (if it allows for deduction from deposit under those circumstances)

Answer 178

agree to surrender usually by deed of surrender both treat lease as no longer in existence :) practical - usually quicker and cheaper NB: not strictly a remedy

Answer 179

If periodic tenancy, allows tenant to serve notice to quit. If fixed term, tenant has right to serve notice and end fixed-term. LL doesn't have either ^ (s 27)

Answer 180

Forfeiture Surrender S25 notice

Answer 181

Fixed term - cease to occupy for business purposes by end of lease; or - serve s 27 notice (ie to quit) 3 months’ notice. Periodic: - giving LL notice to quit

Answer 182

Terminates a business tenancy protected by 1954 Act By serving a s 25 notice specifying the *proposed termination date* Cannot be earlier than date tenancy could have been terminated under common law - eg date ended fixed term Must serve between 6 - 12 months before the proposed termination date

Answer 183

Serve s 25 notice on tenant: 1. State whether oppose grant of new tenancy or not 2. If agreeable to a new tenancy, indicate proposals re terms of new lease in the notice 3. If oppose renewal, state s30 grounds 4. State what date wants tenancy to end - must not be earlier than date could have terminated at common law (e.g. before fixed term expires) - but does not have to coincide with exact date when fixed term expires e.g. if serves 6 months and would end a month after lease expires, tenancy continues an extra month *hard* - see examples below 6. serve between **6 - 12 months** before termination date specified in notice example: - 10 year fixed term, wants to terminate on contractual end date - i.e. not renew, contractual end date 29 Sept 2023 - serve between 29 Sept 2022 and 29 March 2023 - if same lease and 6 months before termination date passed, LL can still terminate for 6-12 months time, will just continue beyond the contractual end date

Answer 184

If LL indicated refuse renewal: - **MUST apply court** before s 25 expiry or will lose rights under Act (and lease will terminate) - LL could pre-empt that by applying for court order terminating on grounds stated in s 25 notice ^ UNLESS tenant already applied to court to renew If LL did not say refuse renewal: - enter negotiations for new lease - but still apply to court within time limit to protect position - can extend time limit by agreement between parties (eg near to finalising terms and wish to avoid expense court proceedings) NB: notice period is termination date in s 25 notice

Answer 185

- could do nothing as tenancy will continue and wait until LL serves s 25 notice - could serve s 26 request (brings current tenancy to an end and constitutes a request for new tenancy) - see seperate queue card

Answer 186

Section 26 Brings current tenancy to an end and constitutes request for a new tenancy Good idea if: - rents fallen and believe reduced rent could be achieved; or - want to assign and new tenant will want a new lease (Otherwise, could just stay and tenancy will continue)

Answer 187

-Date want new tenancy to begin - Must serve within 6 - 12 months of that date That date can't be earlier than date tenancy would be terminated at common law

Answer 188

If oppose, LL must: - **counter notice** within **2 months** of s 26 request - state **s 30 grounds** of opposition After counter-notice, T : - must **apply to court** for new lease prior to requested tenancy commencement date (unless LL agreed to extend) - or lose 1954 protection LL: - can pre-empt T's application by **applying for order to terminate** lease on grounds stated in counter-notice (but not if application for renewal already made by tenant) Even if LL doesn't object, T should still apply to court before commencement date of NEW tenancy to protect rights under act

Answer 189

s 30 grounds

Answer 190

LL opposes tenancy renewal under 1954 Act In s 25 notice or s 26 counter-notice, must state one or more of the grounds as reason: (a) T's failure to repair (b) T's persistent delay in paying rent (c) T's substantial breach of other obligations (d) LL offered alternative accommodation (is suitable to the tenant’s needs and on reasonable terms) - consider if may be too small (e) T is underletting of part (rarely used) - only where LL is serving s 25 notice to bring underletting to an end (ahh so if an underletting don't need to prove any other grounds - just this) (f) LL intends to demolish or reconstruct and could not reasonably do so without possession (g) LL intends to occupy for own business or residence (unfortunately think you acc need to know the order)

Answer 191

(a) failure to repair (b) persistent delay in rent (c) substantial breach of other obs (e) underletting part - court will decide whether to allow tenant a new lease - LL must show ought not to grant - not just that ground exists - so expensive if opposed :( Court DISCRETION. LL must PERSUADE. Can be spenny / liti. :) no compensation payable for all except underletting of part

Answer 192

(where LL refusing renewal 1954 Act) 1. offered reasonable alternative accommodation 2. intends to demolish or reconstruct 3. intends to use for own business or residence - means LL simply must prove (eg that will use for own business) - not that ought to grant D, F and G

Answer 193

That on termination of tenancy: 1. FIRM and SETTLED INTENTION to carry out work *main one* (need evi of this eg obtained planning permission and arrangements in place); and 2. intends to demolish or reconstruct or substantial part, or carry out substantial works on whole or part; and 3. cannot without obtaining possession

Answer 194

1. owned property for at least **5 years** before the current tenancy's end date 5️⃣ (even if not 5 years when submit notice, as long as been 5 years by time tenancy ends) (applies if brought freehold subject to the lease, as long as 5 years passed) 2. **firm and settled** intention 🧘 3. at hearing, demonstrate considered and taken practical **steps** to **occupy** 🩰 4. reasonable prospect of **achieving** intention (don't need to show business will be successful in that location) 👊

Answer 195

**Basically if tenant has underlet part, the LL (but not tenant) can insist that the new lease is of whole** - Tenant only entitled to tenancy of the 'holding' i.e. property comprised in the current tenancy, excluding any part not occupied by the tenant (ie the part that tenant is in, not any parts which tenant has underlet) - BUT landlord has right to insist any new tenancy will be of whole of originally demised (leased) property, inc those parts underlet

Answer 196

Likely to include: - similar terms and conditions to old lease - rent is likely to be the OPEN MARKET RENT as of the date of renewal, disregarding: a) fact that tenant been in occupation; b) any goodwill attached to holding c) any effect of improvements tenant voluntarily carried out; and d) if **licensed**, any addition in value due to tenant's licence (same disregards) If wish, court **may insert rent review clause** - even if not one in original lease.

Answer 197

Tenant - can apply to court to revoke (not about a s 25 notice/counternotice etc - just APPLY to court) LL has no such right - only remedy is to appeal

Answer 198

Pay compensation to the tenant if tenancy refused ONLY on refused on 'no-fault' grounds: (e) tenancy is an underletting of part (f) LL intends to demolish or construct (g) LL intends to occupy or reside (so all no fault grounds except reasonable alternative accommodation)

Answer 199

Equivalent to **rateable value** of the holding EXCEPT if tenant and predecessors in same business occupied for at least **14 years**, then will instead be double the rateable value (rateable value = an estimate of what it would cost to rent a property for a year) (textbook doesn't explain meaning of rateable value btw)

Answer 200

Not if tenant - or predecessors in same business - have been in occupation for **five** years or more.

Answer 201

Different (but similar): - Max term 15 years - will not commence until 3 months after proceedings disposed of (ie time limit for appeal elapsed, which is 4 weeks after order) - so **commences 3 months and 4 weeks after order** ○ Rent is **open market rent** (see sep card for assumptions) - court can **inc rent review** clause if wants ○ Other terms likely to be similar to old lease ○ Court will decide if parties can't agree ○ LL **can request lease is of whole** property originally leased (i.e. if tenant is underletting part)

Answer 202

yes can dispense of need to make formal demand

Answer 203

24.09.2023 (note it is same day like 24 - 24)

Answer 204

- insurance monies retained by landlord - or tenant may have agreed that proceeds: a) passed over to tenant who has been paying premiums; or b) shared between them (LL and T) proportionate to their respective interests (so lease could say 1. tenant keep, 2. ll keeps, 3. share prop interests)

Answer 205

(can be against current tenant or other party who is liable) via High Court or County Court Limitation of six years

Answer 206

Must repair property Keep good repair EXCEPT not into any better state than it was at date of this Lease do not say **PUT or KEEP** in good repair