LPC Law Notes > Cambridge And Oxilp And College Of Law LPC Law Notes > Property Law and Practice Notes

Leasehold Management Alienation Notes

This is a sample of our (approximately) 4 page long Leasehold Management Alienation notes, which we sell as part of the Property Law and Practice Notes collection, a Distinction package written at Cambridge And Oxilp And College Of Law in 2016 that contains (approximately) 450 pages of notes across 126 different documents.

Learn more about our Property Law and Practice Notes

The original file is a 'Word (Docx)' whilst this sample is a 'PDF' representation of said file. This means that the formatting here may have errors. The original document you'll receive on purchase should have more polished formatting.

Leasehold Management Alienation Revision

The following is a plain text extract of the PDF sample above, taken from our Property Law and Practice Notes. This text version has had its formatting removed so pay attention to its contents alone rather than its presentation. The version you download will have its original formatting intact and so will be much prettier to look at.

Work Shop 10 Assignment + Alienation

(Lease) Leasehold Management: Alienation T disposes of residue of the term of the lease and retains no interest in the property or lease. It must be by deed (s.52(1) LPA) and registered at Land Registry. If unregistered, a lease of 7 years or more will trigger compulsory first registration (use Form TR1). Assignment pre-01/01/96 There is an Implied indemnity covenant from assignee to assignor except in unregistered land where the value is not given by assignee (s.77 LPA). Instead, an express indemnity covenant is used (SCPC 6.6.4)

1. Assignment P.349

There are 5 different types of Alienation:

Assignment on or after 01/01/96 Assignor automatically released of future liability, so no need for indemnity. But, if there's an AGA an express indemnity from assignee to assignor must be included because it's not implied (SCPC 6.6.4) T creates new leasehold interest between him and the subtenant of part or the whole of the premises which were let under the original lease (known as the "Head-Lease"). The sublease can be either for part of the original term or for almost the whole of the original term but with a nominal revision. The T retains an interest in the property even if it is just for one day. During the term of the sublease the T is the landlord of the sub-T This includes assignment and sub-letting.

2. Sub-Letting

T allows someone else into occupation or so that T is excluded from occupation themselves.

3. Parting with Possession

[NB: s.42 LTA '54 "two bodies corporate shall be taken to be members of a group where one is the subsidiary of the other or both are subsidiaries of a third body"]

4. Shared Occupation

Several different people/companies occupy the same premises at the same time with the T

5. Charging

Grant a mortgage/other security or other debenture over the freehold or leasehold interest held by T as a security for borrowings

Landlord's Concerns Who is the T Will they meet its rent/other obligations Provide suitable guarantors Who will pay legal costs for checking deed of

Assignee's Concerns Can't negotiate lease beyond agreeing a deed of variation Must take it or leave it What incumbrances and potential problems are there

Assignor's Concerns Ensure LL's consent is obtained in good time LL will want an AGA, therefore make sure assignee can perform its obligations

****************************End Of Sample*****************************

Buy the full version of these notes or essay plans and more in our Property Law and Practice Notes.

Related Property Law And Practice Samples: