Vacant Possession Definition

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GLOSSARY

/ˈveɪk(ə)nt/ /pəˈzɛʃ(ə)n/

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What does Vacant Possession mean?

Property sold with vacant possession must be empty of existing tenants or other occupiers (whether or not occupation is authorised), and all goods and rubbish (subject to the de minimis rule) that substantially prevent or interfere with the enjoyment of a substantial part of the property on or before completion.

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Ireland—Surrender of lease—acting for the landlord—checklist

Ireland—Surrender of lease—acting for the landlord—checklist This Checklist sets out some of the key steps and issues that the landlord should consider when contemplating taking a surrender of a lease from its tenant. It is not exhaustive and you must always consider whether there are any other issues that need to be addressed in your particular circumstances. The Checklist assumes that: • the surrender is express and not by operation of law, and • there will be no re-grant in favour of the tenant immediately following the surrender This checklist can be read in conjunction with: Ireland—Surrender of lease—acting for the tenant—checklist. How to use this Checklist While the mechanics of a surrender of a lease are similar to a sale and purchase (because the tenant is selling and the landlord is buying), there are some differences. The first section (Key considerations) in this Checklist sets out key issues to consider with further detail in the table in Procedure when dealing with the surrender of a lease below. The table...

Solar (PV) farms—checklist

Solar (PV) farms—checklist This checklist can be used by landowners including farmers and local authorities who are considering a solar farm project. • Levels of irradiance Is the land in an area of the UK with high irradiation? The South West, the South, South Wales and East Anglia are best. Solar farms are also suitable in the Midlands and the North albeit with lower levels of irradiance. North Scotland is the least suitable. • Grid connection Is there an existing electricity substation nearby for connectivity to the grid? The distribution network operator should be contacted at an early stage for a quote. • Suitable land ◦ What is the site area? Typically at least ten hectares is required. ◦ Are there any surrounding environmental, geographic or geological factors that might have an effect on the solar array? If possible, aerial photos should be obtained. ◦ Is the site within or adjacent to a designated landscape such as an Area of Outstanding Natural Beauty or National Park? ◦ Is the land...

Discover our 18 Checklists on Vacant Possession

Notice to complete

Notice to complete This Practice Note covers what ready, willing and able means and the consequences of serving an invalid notice. A party who is ready, willing and able to complete can serve a notice to complete and make time of the essence so that the contract may be rescinded. The Standard Conditions (SCs) and Standard Commercial Property Conditions (SCPCs) set out the procedure for service of the notice. While it primarily covers commercial property matters, it also touches on residential considerations. Time is generally not of the essence for completion of a contract for the sale of land. If the seller or the buyer delays completion, the defaulting party will be liable in damages (and for compensation under the standard conditions) but cannot rescind until time is made of the essence of the contract. It is for the party who is ready, willing and able to complete to make time of the essence by serving a notice to complete. If a valid notice to complete has...

Relinquishment and assignation 1991 Act tenancies—Scotland

Relinquishment and assignation 1991 Act tenancies—Scotland Relinquishment or assignation of 1991 Act tenancy to ‘new entrant’ or to a ‘person progressing in farming’ Sections 110 and 111 of the Land Reform (Scotland) Act 2016 came into force on 28 February 2021 inserting Part 3A into the Agricultural Holdings (Scotland) Act 1991 (AH(S)A 1991) providing a process whereby a tenant under a 1991 Act tenancy can relinquish their tenancy to the landlord in exchange for compensation, or if the landlord does not buy them out, allow the 1991 Act tenant to assign the tenancy to a ‘new entrant’ or to a ‘person progressing in farming’. The provisions contained in the Agricultural Holdings (Relinquishment and Assignation) (Scotland) Regulations 2020, SSI 2020/430, (R&A Regs 2020) apply to an agricultural holding in respect of which the lease was entered into in writing: • before 27 November 2003, or • on or after 27 November 2003 but before the commencement of the tenancy, and the lease expressly states that AH(S)A 1991 is to apply to it...

Discover our 90 Practice Notes on Vacant Possession

Contract for sale (residential)—freehold, vacant possession

Contract for sale (residential)—freehold, vacant possession Date [date] Parties 1 [name of (first) Seller] [and [name of second Seller] both] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] ([together] Seller) 2 [name of (first) Buyer] [and [name of second Buyer] both] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] ([together] Buyer) 1 Definitions In this Agreement, the following definitions apply: Actual Completion Date • the date on which the Transfer is actually completed; Buyer’s Solicitors • [name] of [address] reference [details]; [Charge[s] • the charge[s] appearing at entry number [number] [and [number]] in the charges register of title number [number] as at [date of official copy entries];] Completion Date • [date]; [Contents • the items listed in Appendix 1;] [Contents Price • [amount in words] pounds (£[amount in figures]);] Deposit • [number]% of the Price; Documents • the documents identified in Schedule 2;...

Template completion statement—sale of property

Template completion statement—sale of property This Precedent is an adaptable Word template, which can be saved, downloaded or printed from this link: Completion statement—sale of property This Precedent is a template simple completion statement, which can be adapted for a sale of freehold or leasehold land (whether with vacant possession or subject to leases). It includes provisions for the purchase price and deposit, additional fixed sums, apportionments and late completion. It is intended as a starting point and should be tailored for the specific transaction. It is not intended for use on the grant of a lease. Read the contract Before preparing a completion statement, read the contract carefully to ascertain: • any fixed sums that the buyer must pay to the seller on completion in addition to the purchase price—eg sums to be paid for chattels, fixtures, arrears, capital allowances etc • any fixed sums that the seller must pay/allow to the buyer on completion, eg deposit, a retention sum, a rental top up payment...

Dive into our 37 Precedents related to Vacant Possession

If a local authority intends to grant a lease of an Asset of Community Value for a term of 15 years, is this disposal a 'relevant disposal'? Is it caught by the Assets of Community Value regime? Does the authority have any notification responsibilities?

If a local authority intends to grant a lease of an Asset of Community Value for a term of 15 years, is this disposal a 'relevant disposal'? Is it caught by the Assets of Community Value regime? Does the authority have any notification responsibilities? Part 5 of the Localism Act 2011 (LA 2011) enacted various provisions relating to community empowerment. This included by chapter 3 a requirement that a local authority maintains a list of land in its area that is land of community value (LA 2011, s 87). Such land is a building or other land in the local authority’s area which, in its opinion, the actual current use of that land furthers the social wellbeing or social interests of the local community, and it is realistic to think that there can continue to be non-ancillary use which will so further those interests; or it was such in the recent past and it is realistic to think that within the next five years there could be again. By LA...

Can a mortgagee who has not been paid simply sell the property without a court order?

Can a mortgagee who has not been paid simply sell the property without a court order? We are not told what the mortgaged property is but it is assumed that it is real property, ie land. There is no implied power of sale in favour of a mortgagee, but that does not mean that a mortgagee cannot sell the mortgaged property without seeking a court order to that effect. There may be an express right to sell contained in the mortgage deed or alternatively the mortgagee might rely on the statutory power of sale. The statutory power of sale is now contained in sections 101 and 103 of the Law of Property Act 1925 (LPA 1925). The statutory power may be extended or varied by the express terms of the mortgage deed. See The Maule. See Practice Note: Mortgages and land—enforcement of mortgages and legal charges over land. The statutory power contained in LPA 1925, s 101 provides that where a mortgage is made by deed, as will...

See the 178 Q&As about Vacant Possession

Property Disputes weekly highlights—22 February 2024

This week's edition of Property Disputes weekly highlights includes: Upper Tribunal decisions on the price to be paid for an extended lease, rent increases and rent repayment orders, and the Supreme Court Fees Order.

Property weekly highlights—22 February 2024

This week's edition of Property weekly highlights includes: new planning rules for short-term lets, government action to encourage action against building owners who fail to remediate medium and high-rise buildings, finalised biodiversity net gain guidance and cases on surrender by operation of law and regrant, enfranchisement valuation and calculation of rent repayment orders.

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