Residential Property

Residential Lease Extensions

Why would you need to extend the term of your Lease? Most residential Leases, historically, were granted for an initial term of 99 or perhaps 125 years. Whilst it is of course possible that a residential Lease could have been granted with a much longer term at the outset, as is increasingly starting to be the case with more modern Leases, this was less comm ...

Recovering Possession - Assured Shorthold Tenancy (AST)

The Assured Shorthold Tenancy (AST) was introduced in 1997, and since has become the most common type of tenancy agreement used to let residential properties. Most tenancies started on or after the 28th February 1997 are automatically ASTs.

Buying a Share of Freehold

Buying a share of freehold most commonly occurs when a buyer purchases a leasehold interest in a flat while simultaneously obtaining a share in the freehold interest of the whole building. The buyer will acquire two separate and distinct titles to the property; the leasehold and freehold interests.

Bankruptcy and Property Ownership

When a person is made bankrupt by an order of the court the bankrupt’s assets vest in the trustee in bankruptcy who realises them in order to pay the debts owed to creditors. The trustee in bankruptcy is usually an Official Receiver or an insolvency practitioner who holds the assets on trust for creditors of the person made bankrupt. A trustee has the power ...

Adverse Possession and Prescriptive Easements Over Unregistered Land

Rights over land can be acquired over time by individuals through adverse possession and prescriptive easements. It is important that land owners are aware of what can give rise to these claims as they may be dispossessed of land or be legally forced to grant certain use of it to another. All parties to such claims should seek expert legal advice.

A Quick Guide to Forms of Tenancy Agreement

Landlords and tenants should both be aware that there exist a number of different types of tenancy agreements. Understanding the form of agreement is essential to ensure that the respective rights and obligations of the parties can be met. It is particularly important for landlords to know what type of agreement is in place if property is to be purchased su ...

The Dangers of Registering Property in the Name of an Offshore Entity

Holding properties in offshore entities has come under the scrutiny of legislators keen to be seen as cutting down tax avoidance. From April 2013 the tax regime relating to UK property whose title is held by offshore non-natural persons will undergo a change, with the result that new taxes and charges will be levied.

Bankruptcy and Co-ownership of Property

When the co-owner of a property faces bankruptcy, how that property is held can have a significant effect on the outcome for the other party. Most important is to distinguish whether the property is held as tenants in common where the interest is held in separate shares, or beneficial joint tenants where the interest is held in equal undivided shares.

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