ACP SGS 5
Terms
undefined, object
copy deck
- What is the Code of Measuring Practice?
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1. Produced by the RICS;
2. Purpose is to provide succinct, precise definitions to permit the accurate measurement of buildings on a common and consistent basis.⬝
3. It is a universal way of measuring buildings.
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What does Net Internal Area mean? Which case has impacted on this?
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According to the Code, NIA is defined as the usable area within a building
Certain areas are expressly excluded, such as toilets.
The Kilmartin case
- What should you reference in connection with measuring buildings?
- Code of Measuring Practice
- The Kilmartin case
- The correct approach in interpreting whether an area of a property is usable or not is to ascertain whether the area can be used for any sensible purpose in connection with the purposes for which the property is to be used.
- The correct approach in interpreting whether an area of a property is usable or not is to ascertain whether the area can be used for any sensible purpose in connection with the purposes for which the property is to be used.
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The Kilmartin case
- What is the point of requiring an Exempt Information Document to be registered at the same time as a Lease is noted at the Land Registry?
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This allows commercially sensitive
information to be kept confidential.
- Why might there need to be a difference between The Premises and the Site, for example?
- Reference to one is likely to relate to what the tenant is taking a lease of (the Property, or Premises - most likely), while references to the Site and Estate are more likely to relate to the whole development owned by the landlord.
- When will a purchaser/tenant want contractual warranties to be in place by?
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They will want to have those
warranties in place prior to exchange or completion of the lease.
- When is SDLT due from?
- 30 days from the “effective dateâ€.
- What is the effective date taken to mean?
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The date of grant of the lease
unless “substantial performance†has taken place beforehand. - What might HMRC consider "substantial performance" in the context of a lease to mean?
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Entering into occupation of the premises under the Agreement for Lease to carry out fitting out works.
The tenant is likely to need to pay SDLT within 30 days of taking occupation of the premises - If an Agreement for Lease is executed? What should a tenant do with the Agreement for Lease?
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Register the Agreement for Lease on the landlord’s title at the Land Registry.
- How can a tenant register an Agreement for Lease?
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Unilateral Notice (UN1); or
Agreed Notice (AN1)
- Discuss a UN1
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1. Does not need the landlord’s consent but is more susceptible to removal
3. You do NOT need to send a copy of the agreement to the LR (protects confidentiality).
- Discuss a AN1
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1. Landlord’s consent is required.
2. More secure notice.
3. However you DO need to send in the agreement to the LR (available to the public).
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What can a landlord require that a tenant do to protect confidentiality in the context of registering an Agreement for Lease on the landlord’s title at the Land Registry.
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Require the tenant to submit an AN1;
Together with an EX1 and EX1A which would just require an edited version of the agreement for lease to be submitted to the LR which would protect confidentiality.
- What procedure will need to take place if the tenant will not have security of tenure? By when must the information be compiled?
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The contracting out procedure will need to be followed.
1. Landlord's warning notice;
2. Tenant's declaration or statutory declaration;
3. Guarantor's (if applicable) declaration or statutory declaration
Must be compiled before the tenant is contractually committed to take the lease, i.e. before exchange. - What document is required in connection with the payment of a rent deposit?
- A rent deposit deed.
- What are the quarter days?
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25 March
24 June
29 September
25 December - If a deposit is to be held as agent, then for the purpose of VAT when does the point of supply take place?
- At exchange rather than completion.
- If a deposit is to be held as stakeholder, then for the purpose of VAT when does the point of supply take place?
- At completion, rather than exchange.
- What is a stopping up order and when might one be needed?
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Order granted by the local authority preventing public access over a public highway.
Might be needed when works are
being carried out on a road, or when the developer wants to reconfigure
public highways. - Why in conditional contracts do you normally see a condition that the Challenge Period is “six weeks plus two weeks†from the date of the local authority’s decision
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If someone applies for judicial review, the deadline is six weeks from date LA publishes its decision.
No obligation on the party applying for JR to notify the person who applied for planning permission.