½Û×ÓÊÓƵ

View the related checklists about Disposition

Leasing or buying from a heritable creditor in possession (Scotland)—checklist

Leasing or buying from a heritable creditor in possession (Scotland)—checklist Title When taking a lease or buying from a heritable creditor in possession, the title deeds should include: • the original or a certified copy of standard security under which the heritable creditor purports to have title • evidence that the power to enforce the standard security has arisen (ie a default has occurred and calling up procedures have been followed), see Practice Note: Enforcing standard security—Scotland The standard security will be registered against the title to the property, but you should also check that it: • has been registered at Companies House • has been properly executed, see Practice Note: Execution of documents under Scots law and Registers of Scotland—guidance on execution of documents in counterpart • contains provision to allow the heritable creditor to call up and sell or lease Most standard securities will contain an express power to enforce on the occurrence of specified events of default, but if this is not the case, a power to...

Charity land acquisition and disposal—checklist

Charity land acquisition and disposal—checklist Before and during the acquisition and disposal of land, trustees have a number of matters they should consider. Before acquisition • consider the purpose of the acquisition, eg is it functional, investment or for purposes • whether the trustees are agreed that the acquisition is necessary to further the aims of the charity and it is the interests of the charity to do so • ensure there is power in the governing instrument to acquire the land, and if not, on what basis can they legally justify the purchase • determine if the transaction needs to be financed and, if so, how • decide if the property is to be acquired in the names of the trustees or, perhaps, vested in the Official Custodian • consider the VAT status—where the seller/landlord has opted to tax or made a real estate election or the property id under three years old, an acquisition may not make sense unless: ◦ the supply will be zero-rated because the property...

View the related flowcharts about Disposition

Excluded property from 6 April 2017—flowcharts

Excluded property from 6 April 2017—flowcharts These flowcharts are designed to help determine if an asset is excluded property for the purposes of UK inheritance tax (IHT) on or after 6 April 2017. The flowcharts consider whether an asset is excluded property or not, depending on the situs of the property and the domicile of the beneficial owner or settlor as appropriate. However, the detailed provisions relating to excluded property should be referred to and practitioners should also consider whether a double tax treaty may apply to override the excluded property regime depending on the particular circumstances of a matter. See Practice Note: Double taxation relief—summary. Conversely, unilateral relief from IHT may apply where a tax of a similar nature has already been levied in respect of the same asset by a foreign tax authority. For further information, see Practice Notes: Excluded property trusts—key events affecting IHT status and Situs of assets for succession and IHT. Situs of property The situs of an asset is important for determining the...

View the related practice notes about Disposition

Land registration—overriding interests, occupiers and interests which have lost overriding status

This Practice Note looks at overriding interests under the Land Registration Act 2002 (LRA 2002). It contains detailed content on actual occupation as an overriding interest as well as linking to additional relevant content which provides detailed information on other overriding interests. It also touches on interests which have lost overriding status since LRA 2002 came into force.Overriding interests under the Land Registration Act 2002Overriding interests generallyOverriding interests are unregistered interests which affect registered land even though they are not shown on the register. They bind both the registered proprietor and any person who acquires an interest in the property.Overriding interests fall into two categories:•those that override the first registration of land; these are set out in LRA 2002, Sch 1•those that override a registered disposition of land for value; these are set out in LRA 2002, Sch 3Both categories of overriding interest include the types of interest set out below.Leases for less than seven yearsMost leases for less than seven years are overriding interests. However, there are exceptions; a...

Charity land disposals

Identifying charity landCharity land can be held by any person or group of persons. The purpose for which the land is held determines whether or not it is charity land. In many instances land is held by a registered charity. However, it is possible that a company (whether limited by shares or guarantee), a local authority, a body of trustees or an unincorporated association might be holding land on the terms of a charitable trust without necessarily even being aware that it is doing so. See below for the statutory definition of ‘charity land’.Different types of charity for the purpose of land transactionsThere are three types of charity for the purpose of disposal, each of which requires a different procedure:•exempt charities—any charity listed in Schedule 3 to the Charities Act 2011 (CA 2011) is an exempt charity (this includes academies, foundation and voluntary schools, sixth form college corporations and most universities, certain museums and galleries and various charitable societies (eg housing associations)•non-exempt charities—although the term 'non-exempt charity' does not actually...

View the related precedents about Disposition

Cross-border protocol for insolvencies or restructurings

Cross-border protocol for insolvencies or restructurings This Agreement is made [insert day and month] 20 [insert year] Parties 1 [insert name of insolvency representative] in their capacity as [insert capacity eg liquidator or administrator or trustee or custodian or supervisor or curator or examiner] of [insert name of company(ies) appointed over] in [insert name of country A] appointed by a decision of the [insert name of court or administrative or governmental or regulatory body appointing them] dated [insert date]; and 2 [insert name of insolvency representative] in their capacity as [insert capacity eg liquidator or administrator or trustee or custodian or supervisor or curator or examiner] of [insert name of company(ies) appointed over] in [insert name of country B] appointed by a decision of the [insert name of court or administrative or governmental or regulatory body appointing them] dated [insert date]; together referred to as the Insolvency Representatives; and 3 [insert name of debtor company(ies)] a company incorporated in [insert country] under number [insert registered number] whose ...

Will—for unmarried couple with children using discretionary trust

Will—for unmarried couple with children using discretionary trust 1 Revocation I [full name of testator] of [address of testator] revoke all former testamentary dispositions made by me [to the extent that and so far only as they affect my property of every kind in the United Kingdom of Great Britain and Northern Ireland] and declare this to be my last Will. [I also revoke all previous appointments of guardians of my minor children made by me before the date of this Will.] 2 [ Territorial scope, declaration of domicile and choice of law 2.1 [This Will shall affect only my property of every kind in the United Kingdom of Great Britain and Northern Ireland and no other part of my property of any kind outside the United Kingdom of Great Britain and Northern Ireland.] 2.2 [I declare that I am domiciled in England.] 2.3 [I hereby declare that at the date of this Will I have British nationality, and that I choose the law of England and Wales...

View the related q&as about Disposition

Can the trust deed be protected by standard Form A restriction at the Land Registry and what is the best way of registering the trust deed at the Land Registry?

Can the trust deed be protected by standard Form A restriction at the Land Registry and what is the best way of registering the trust deed at the Land Registry? It has been assumed that the property that is the subject of the trust deed is registered property and that the trust deed is to be made between co-owners of the registered property. Where two or more people together own real property, they hold it under a trust of land. Where property is held on a trust of land, the legal estate and equitable estate are separate. The legal estate must be held by the co-owners as joint tenants. The beneficial interest in the property can, however, be held by the co-owners either as: • joint tenants, or • tenants in common If the co-owners are joint tenants, each has an indivisible share in the property, so that each owns the whole rather than an identifiable share of the property. The right of survivorship applies so...

Does section 27 Hire Purchase Act 1964 apply if the hirer did not directly sell the car to an innocent third party but it was someone on behalf of the hirer—eg their partner or an agent?

Does section 27 Hire Purchase Act 1964 apply if the hirer did not directly sell the car to an innocent third party but it was someone on behalf of the hirer—eg their partner or an agent? BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime. We are not aware of any authority that states section 27 of the Hire Purchase Act 1964 (HPA 1964) applies where a sale is made by the spouse of a debtor. HPA 1964, s 27 (which is contained in Part III of the Act) concerns where a motor vehicle has been bailed under a hire-purchase agreement, or has...

View the related News about Disposition

Property Disputes weekly highlights—22 May 2025

This week's edition of Property Disputes weekly highlights includes: Supreme Court decisions on the Building Safety Act 2022 and wild camping rights, a Court of Appeal judgment on discharge of restrictive covenants, Upper Tribunal decisions on rectification of the register and admitting fresh evidence in a rent repayment order appeal, and High Court decisions concerning a rate mitigation scheme, the debt respite regulations, and proprietary injunctions. It also includes the minutes of the Online Procedure Rule Committee meetings of 17 March 2025 and 14 April 2025, minutes of the Civil Procedure Rule Committee meeting of 4 April 2025 and key developments on the Renters’ Rights Bill and the Welsh Government’s legislative programme for the final year of the Senedd term, including the Building Safety Bill.

Restructuring and Insolvency weekly highlights—22 May 2025

This week's edition of Restructuring and Insolvency weekly highlights includes: the publication by the Insolvency Service of its monthly insolvency statistics for April 2025, a discussion of the Court of Appeal’s dismissal of appeals against the High Court’s decision to sanction Thames Water’s restructuring plan (Kington v Thames Water), an examination of the availability of proprietary injunctions in antecedent transaction claims in insolvency proceedings (Khan v Goldfarb), plus a round-up of other news and cases for restructuring and insolvency professionals.