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LPC Law Notes Property Law and Practice Notes

Dealing Notes

Updated Dealing Notes

Property Law and Practice Notes

Property Law and Practice

Approximately 490 pages

A collection of the best LPC PLP notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".

In short these are what we believe to be the strongest set of PLP notes available in the UK this year. This collection of notes is fully updated for recent exams, a...

The following is a more accessible plain text extract of the PDF sample above, taken from our Property Law and Practice Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

DEALING

  • Clause 4.1 Clause 1.14 Schedule IV, Para. 11 – Dealing

  • Clause 2.8: “Any provision indicating that L’s consent or approval is not to be unreasonably withheld will be construed as though it also provided that the consent or approval is not to be unreasonable delayed.

  • Clause 4.1 Clause 1.14 Schedule IV, Para. 19 – Licence Fees: T covenants “to pay all reasonable costs and other expenses incurred by L in relation to every application made by T for a consent or licence under this lease whether it is granted, refused, withdraw, or offered subject to qualifications or conditions”.

Part of the Premises? Whole of the Premises?

Assignment

Permitted? Not permitted Permitted subject to consent & conditions
Lease provision(s)

Sch. IV, Para. 11.1

  • Express restrictive covenant – absolute

  • “Not to assign … part only of the Premises.”

Sch. IV, Para. 11.3

  • Express restrictive covenant – fully qualified

  • “Not to assign … the whole of the Premises without first obtaining the written consent of L (such consent not to be unreasonably withheld).”

  • Clause 2.8: L cannot unreasonably delay consent.

Sch. IV, Para 11.4 – Conditions:

  • T must comply with the conditions [referred to in para. 11.3(b)]:

    • Outgoing T must give an AGA to L

    • Incoming T will need a guarantor if it has poor covenant strength

Sch. IV, Para 11.5 – Circumstances:

  • T must satisfy the circumstances [referred to in para. 11.3(c)]:

    • T cannot have any rent or other monies outstanding

    • Incoming T must, in L’s reasonable opinion, have similar covenant strength to outgoing T to be able to comply with the Tenant’s Covenants [cl. 1.14]

Statutory Impact
(if any)

S.19(1A) L&TA 1927: L & T may agree conditions for consent and circumstances for refusal – given in the paragraph.

S.19(1)(a) L&TA 1927: turns qualified covenant into fully qualified – already in paragraph

S.1 L&TA 1988: consent/reasons for refusals not to be unreasonably delayed – provided for in Clause 2.8.

Underletting

Permitted? Permitted subject to conditions Permitted subject to consent & conditions
Lease provision(s)

Sch. IV, Para. 11.1

  • Express restrictive covenant – qualified

  • “Not to … underlet … part only of the Premises (except by way of an underlease of a Permitted Part of the Premises).”

  • Clause 1.7: Permitted Part = the entirety of a floor

Sch. IV, Para. 11.6

  • Not to underlet a Permitted Part of the Premises without the written consent of L (such consent not to be unreasonably withheld)

  • Obtain direct covenant between UT and L AND guarantor (if required

Sch. IV, Para. 11.7

  • Include similar alienation covenants, corresponding rent review, covenants to comply with T’s obligations in lease, and forfeiture clause

Sch. IV, Para. 11.8

  • Not to underlet below market rent or in consideration of the payment of any fine or premium

  • Rent review in accordance with terms

  • Not to vary terms or accept surrender of underlease without L’s written consent (such consent not to be unreasonably withheld)

  • Enforce the observance of covenants and never waive any breach of covenant (if breach is waived, can’t forfeit)

Clause 2.8: L cannot unreasonably delay consent.

Sch. IV, Para. 11.2

  • Express restrictive covenant – fully qualified

  • “Not to part with possession of the whole of the Premises … (except by way of a permitted … underlease of the whole).”

Sch. IV, Para. 11.6

  • Not to underlet the whole of the Premises without the written consent of L (such consent not to be unreasonably withheld)

  • Obtain direct covenant between UT and L AND guarantor (if required

Sch. IV, Para. 11.7

  • Include similar alienation covenants, corresponding rent review, covenants to comply with T’s obligations in lease, and forfeiture clause

Sch. IV, Para. 11.8

  • Not to underlet below market rent or in consideration of the payment of any fine or premium

  • Rent review in accordance with terms

  • Not to vary terms or accept surrender of underlease without L’s written consent (such consent not to be unreasonably withheld)

  • Enforce the observance of covenants and never waive any breach of...

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