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The means by which land is owned in England and Wales.
An estate in the land is time in the land, or land for a time. A freehold estate entitles the owner to hold the land for all time. A leasehold estate entitles the owner to hold the land for the length of the lease. By s.1(1) of the Law of Property Act 1925, those are the only estates capable of existing at law. An estate may be owned by more than one person. At law, they may only be joint tenants and there may be no more than four. In equity, there may be more than four and they may be tenants in common.
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EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...
A summary checklist and timeline for bringing misfeasance, fraudulent trading and wrongful trading claims under sections 212, 213, 246ZA, 214 and 246ZB of the Insolvency Act 1986 Checklist This Checklist is in relation to claims under sections 212–214, 246ZA and 246ZB of the Insolvency Act 1986 (IA 1986), being commenced by an insolvency office-holder. For further reading on claims under IA 1986, ss 212–214, 246ZA and 246ZB generally, see Practice Notes: • Misfeasance claims under section 212 of the Insolvency Act 1986 • Fraudulent trading claims under sections 213 and 246ZA of the Insolvency Act 1986 • Wrongful trading claims under sections 214 and 246ZB of the Insolvency Act 1986 Step/action Time (days) Section/rule 1. Investigate the events and circumstances leading to the insolvency of the company and the matters giving rise to the claim(s) against the respondent(s). This would include obtaining the company's books and records, interviewing directors, former directors and any persons with information concerning the promotion, formation, business, dealings, affairs or property of the company.It...
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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...
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Disclosure—solicitors' obligations This Practice Note identifies solicitors’ obligations in relation to disclosure to their client and the court. It also explains the need to preserve documents, provide the required disclosure and co-operate with the other side particularly in relation to electronic disclosure (e-disclosure). This Practice Note does not cover the provisions of the disclosure scheme operating in the Business and Property Courts. For guidance, see: Disclosure scheme—overview. Obligations Throughout the disclosure process you have obligations to your client, to the court and in accordance with other relevant provisions. These include, but are not limited to: • advising your client of the need to preserve documents—see further: Preservation of documents • ensuring your client complies with all relevant and applicable provisions and makes compliant disclosure—see further: Full disclosure • co-operating with the other side, specifically in relation to e-disclosure and/or where the claim is proceeding on the multi-track and does not involve a claim for personal injury—see further: Co-operating with the other side • a reasonable duty to manage...
Ireland—Parties to an action STOP PRESS: SI No 14/2025 Rules of the Superior Courts (Guardian ad litem and next friend) 2025 (Ireland) amends Order 15 of the Rules of the Superior Courts (RSC) to provide the procedure for appointment of a next friend for a child plaintiff and of a guardian ad litem for a child defendant. This Practice Note will be updated shortly to reflect the relevant changes. Scope of this Practice Note This Practice Note provides an overview of the types of parties who may become involved (whether as plaintiff, defendant, third parties or notice parties) in civil litigation in Ireland, and the key procedural issues and practical considerations of which their legal advisors should be aware. It deals with the following types of party: corporations, partnerships, sole traders, minors, persons who lack capacity, the estate of a deceased party, State parties, notice parties, amicus curaie and litigants in person. This Practice Note also deals with the procedure for joining a party to proceedings, removing or substituting...
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Letter to developer client at the start of development project To: [insert client name and address] Date: [insert date] Dear [contact name] [Project name/Address] Thank you for instructing us in relation to [description of project and address]. So that we have as much information as possible at the outset of this project, and to highlight any key issues, I would be grateful if you could confirm the following and bring any relevant documents [including those listed in the schedule to this letter] to our meeting on [date]: The works • A full description of the intended project (ie intended floor area, how many floors, any car parking, etc) • Will the works constitute the construction of, or building works to, a ‘higher-risk building’ for the purposes of the Building Safety Act 2022? • Intended start on site date • Intended completion date • Estimated construction cost • Have any members of the design/construction team been selected, particularly the principal designer and principal contractor? • Has a...
Gift of land—transfer clauses Use HM Land Registry Form TR1 and insert in the panels specified below the wording shown Panel 8—consideration The transfer is not for money or anything that has a monetary value Panel 9—title guarantee This transfer is made [with
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In 2006, the deceased’s husband established a nil rate band trust (NRB) in his Will funded with a loan note from his wife in the amount of £285k. The only documentation for this arrangement was a loan note and the trust was not registered with the Trust Registration Service (TRS). The deceased's children wish to have the trustees appoint this to their own children. Do charges under the relevant property regime apply to the trust? Should the trustees retrospectively register the NRB trust with the TRS and report to HMRC? Relevant property trust charges In the case of the ten-year charge, the available nil rate band (NRB) is used as part of a formula to calculate the effective rate (ER), which in turn determines the actual rate of inheritance tax (IHT) to be applied to the particular trust. The actual rate is 30% of the ER. As the maximum ER is 20%, the maximum actual rate is 6%. See Practice Note: Relevant property trusts—the principal (ten-year) charge before 18 November...
Have remedies under section 121 of the Law of Property Act 1925 been removed in relation to a modern ‘service charge’ type charge payable by owners on an estate (eg a typical newbuild type estate where there might be common areas, etc paid for collectively by way of variable charge, payable by positive covenant). Are these estate rentcharges? The Leasehold and Freehold Reform Act 2024 (LFRA 2024) amended the Law of Property Act 1925 (LPA 1925) and introduced a new concept of a ‘regulated rentcharge’ (LFRA 2024, ss 113(2) and 124(2)(a) and LPA 1925, s 120A(1)). A ‘regulated rentcharge’ is any rentcharge of a type that could not be created under section 2 of the Rentcharges Act 1977 (RcA 1977)—see LPA 1925, s 120A(1) and Practice Note: Rentcharges—apportionment, termination and enforcement (which refers to ‘regulated rentcharges’ as ‘Historic Rentcharges’). On and from 27 November 2023, remedies under LPA 1925, s 121 are no longer available in relation to a ‘regulated rentcharge’ (LPA 1925, s 121(1A) and LFRA 2024, s 113(5))....
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This week's edition of EU Law weekly highlights includes analyses on the interplay between the EU AI Act and the EU General Data Protection Regulation, what legal teams need to know about AI standards, navigating the EU AI Act in 2025, and the impact of imminent European design reforms on companies’ future IP strategies. Further this week, the European Commission published its 2025–2030 Ecodesign Working Plan, launched a call for evidence on its proposed Industrial Decarbonisation Accelerator Act, adopted three Delegated Regulations under the European Green Bond Regulation, fined Apple €500m and Meta €200m for breaching EU Digital Markets Act obligations and closed its EU Digital Markets Act investigation into Apple's user choice obligations. Finally, this week’s highlights cover the publication of new guidelines on sharing cybersecurity information in the electricity sector and MedTech Europe’s warnings on the risks associated with medical import tariffs.
Ireland—Banking & Financial Services analysis: LMTs, SIU, ESG, AIFMD Q&A, Stop the Clock, leverage, MiFID II research, MiFID II order execution, EMIR clearing thresholds, AI, insider lists. This article was written by the Insurance & Reinsurance team of A&L Goodbody LLP
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