Rosalind Cullis discusses a case which serves as a salutary reminder of the importance of compliance with break conditions ‘If there is a substantial impediment to the landlord’s use of the property, or a substantial part of it, then vacant possession has not been given.’ What amounts to vacant possession has, once again, been considered …
Continue reading "Vacant Possession: Take it away"
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Wills & Trusts Law Reports | July/August 2015 #151The appeal arose from one of what were originally ten test cases in which the defendant home owners (the vendors) were persuaded to sell their properties to purchasers (the purchasers) who promised the vendors the right to remain in their homes after the sale. The purchasers bought the homes with the assistance of mortgages from lenders (the lenders), who were not given notice of the promises to the vendors. Neither the rights of occupation promised by the purchasers to the vendors nor the tenancies granted by the purchasers were permitted by the lenders’ mortgage. Exchange of contracts ...
Dr Keith Shaw analyses the Court of Appeal decision in Ibrend Estates, and what vacant possession really means in practice ‘Tenants frequently misunderstand the requirements for the successful operation of a break option, and unwittingly find that they remain liable and tied to the covenants contained in their current lease because of a failure to …
Continue reading "Vacant Possession: A practical overview"
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