In this seminar Anya Newman and Harry Marriott look at issues concerning leases and specifically how they can be altered to suit a client’s needs.With the increase in the use of leases by developers, clients are increasingly asking what can be done about the (sometime onerous) restrictive covenants placed on them. Often people simply did not realise or consider the impact of the covenants on their use of the property when they were going through the purchase process. In addition, leaseholders who entered into agreements many years ago when the commercial landscape was very different, are now finding that their property might be put to better, alternative use but the lease restricts it. Anya Newman will look at the ways in which leaseholders can hope to alter their leases so that they can use their property to better effect.
Alongside the increasing use of leases, Leaseholders often have concerns about the value of their property diminishing as time passes. Clients are frequently looking to extend the terms of their lease or buy the freehold of their building. This complex area of law has been subject to considerable recent criticism for the vast sums that leaseholders may have to part with. Harry Marriott will explore how the existing procedure can be used to achieve desirable outcomes for clients and the potential directions that enfranchisement may take as the pressure for reform mounts.
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