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Leases Running Of Covenants Ii Notes

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A more recent version of these Leases Running Of Covenants Ii notes – written by Cambridge/Bpp/College Of Law students – is available here.

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Land: Leases - Running of Covenants II (Post-1996 Leases) Introduction - Landlord and Tenant (Covenants) Act 1995

- 1 Jan 1996: LT(C)A 1995 came into force. app. to all 'new leases': all leases created after 1 Jan 1996. some exceptions: where option or agreement to grant lease entered into before 1 Jan 1996. old leases: pre-1996 rules still apply, but modified by retrospective provisions - s17-s19 LT(C)A. date of assignment irrelevant: if lease created pre-1996, old rules apply even if later assignment.

- Main provisions. liability of original parties: s5: abolishes continuing liability of original T. ss6-8: enables original L to be released for continuing liability. s11: excluded assignments - original parties not released. s16: Authorised Guarantee Agreement (AGA) - T guarantees performance of covenants by assignee. s22: commercial leases - pre-conditions to assignment possible. passing of benefit + burden: s2: app. to all landlord + tenant covenants - 'touching + concerning' requirement abolished. s3: passes benefit + burden of all landlord + tenant covenants. s3(5): restrictive covenants can be enforced directly on sub-tenant. s3(6): NOT covenants 'expressed to be personal'.

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