PropertyLaw.guru Blog

Estates Gazette EG articles 3rd Nov 18

This weeks articles in the esteemed organ of surveyors are as follows:P. 61 The new accounting standard IFRS16 means that the lease liabilities (such as future rent etc. payments) will need to be shown on company balance sheets. The article considers what this will mean for commercial lease - such as shorter leases instead of longer leases with break rights?, More turnover rents, less 5 year review,
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SDLT on building licences & substantial performance

Interesting email discussion between me, Judith Pederzolli of PEM Accountants in Cambridge who advises on SDLT, and Anne Humphreys who also advises on SDLT - almost makes me miss lecturing on SDLT!Situation - developer has access to site to build the building under a building licence, with the right to buy it when it's built. Judith mused as follow: "I wondered if there can be substantial
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EG Estates Gazette 27-10-18 Article summaries.

P. 53 Development Horror Stories! In time for Halloween this article lists the problems that can befall development sites plus a brief outline of what you can do. Bats,Newts, Ancient Monuments, covenants & TVGsP. 55 Mobile phone masts and the Telecommunication Code, good summary plus a couple of excellent one page flow charts setting your rights (if any) to move a mobile phone mast off your landP.58
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Estates Gazette EG 20-October 18 legal articles

Sorry, bit later this week but here goes:P67. Employment law (?!) Unconscious bias in the workplace and diversityP.69 More SDLT  for foreign buyers - we all hate it and it is planned to charge foreign buyers of residential property an extra 3%! Naturally us poor lawyers will be the tax collectors and take the risk on this one it seems. P.70 Valuation issues on the Law Commission’s proposals
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SDLT & mixed use. HMRC goes back on itself 😱

Read the illustrious SDLT expert barrister Patrick Cannon’s article on the meaning of ‘residential property’ for mixed use (click through the post to get to the published article). SDLT is way more complex than solicitors who blithely call it ‘stamp duty’ will admit to, but they are taking all the risk if they don’t refer clients to experts for advice. I have been ranting on about this
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EG Estates Gazette 13 October 2018 Articles

Bumper crop of great articles this week!P.73 Review of the new RICS Service Charges in Commercial Property Code. It sets down nine mandatory requirements on service charge adminstration for the first time, bringing it  more in line with the resi sector, giving occupiers greater clarity and certainty over service charges, and provides guidance to solicitors their clients and managers in the negotiation,
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Consultation proposals on ground rents

Here are the proposals on reducing new ground rents to £10 - a good start ! (unless you are an investor 😱) Leasehold_consultation.pdfConsultation closes 26 November.Main proposals:Ground rents capped at £10, not a peppercorn or £1Can only be sued for in the year they are due, not afterThis seems to also apply to *voluntary* lease extensions too, whereas statutory extensions will be
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EG Estates Gazette 6th October - legal articles update

P.115 Proptech and privacy. Scary article showing how a landlord or employers building tech could be used to build up data about you, big-brother style, and even be sold to others/used for employment law issues or even sold for marketing purposes! Remember - if you don’t pay for a product (such as that app on your phone), YOU and the data you produce using it are the product that is being sold..P.117
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EG Estates Gazette 29th September update..

p.97 Excellent and thorough summary of the Law Commission’s proposals to reform the law of Enfranchisement and Lease extension. All of the procedural suggestions are well thought through but the intractable one is how you make it cheaper for tenants to extend their lease or buy the freehold without giving the freeholder less money than before. The burning question is whether, with Brexit and many
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Title insurance - sometimes not such a solution after all in the real world....

Now don't get me wrong, title insurance has a place sometimes, but its not a cure-all...One of the delegates on my courses told me a tale that needs to be told to all those who dismissively say to you 'Oh, can't you just get some insurance, stop holding it up, I just want the keys'!Picture the all too familiar scene, developer wants to buy site to put houses on - only problem  -
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