The implementation of Commercial Rent Arrears Recovery (CRAR), which will replace the law of distress, has taken a step forward. On 9 January 2014, new regulations (Taking Control of Goods (Fees) Regulations 2014) were made for enforcement agents to recover fees and disbursements for CRAR from debtors. There are three stages to the Read More
Earlier this week, the City of London Law Society issued a new Protocol for discharging mortgages of commercial property but will this mean a common approach for all commercial property transactions?
Historically, commercial property transactions do not benefit from the Law Society endorsed code of practice that relates to residential properties. Instead, where a transaction Read More
Landlords often ask for a rent deposit when they grant a new lease, or consent to an assignment, especially if the incoming tenant is of shaky covenant strength. This provides security against possible future default.
If a tenant becomes insolvent then this is exactly the sort of situation where a landlord would want to make Read More