It is now finally accepted that there is no such thing as a “typical” family. Families comprised of step-children, half-siblings and non-biological parents – so-called “blended” families – are the norm for many across the country, including our clients.
A significant number of property purchases continue to be undertaken as corporate transactions, with the buyer acquiring the shares in the target company which owns the property, the target company generally being a special purpose vehicle. In order to reduce the risk of time and money being wasted, we consider here some of the key issues which the parties should consider at the outset of a transaction in order to establish whether or not a corporate deal is viable.
Your divorce is now final. What next? The last thing on your mind may be to consider your estate and wealth planning, and the prospect of dealing with lawyers again so soon after your divorce can quite understandably be unappealing for some!
The government has announced in the Queen’s Speech that it will shortly publish a White Paper setting out details of the much anticipated Renters' Reform Bill.
Conservation Covenants (“CCs”) will allow landowners to contract voluntarily with a “Responsible Body” to commit their land to “conservation”.
Commercial Real Estate Partners, Ronan Ledwidge and Anthony Goodmaker, were back at this year’s Student Housing Conference - an in-person event held at the Grand Connaught Rooms on Wednesday 11 May, which brought together all the biggest names in the UK student accommodation market.
There has been a plethora of recent articles about the Economic Crime (Transparency and Enforcement) Act 2022 and its provisions which deal with the register of overseas entities, but given that the register is not yet in force and there is no suggestion as to when it will become effective, how concerned should lenders be?
We may not yet know when the register of overseas entities (the “Register”) to be set up under the Economic Crime (Transparency and Enforcement) Act 2002 (the “ECA”) will become effective, but we can be fairly certain that it will be in the not-too-distant future.
As Residential Property Developer Tax (“RPDT”) has now begun, it’s worthwhile reminding ourselves of the key points surrounding it.
Announced by the UK government a little over a year ago, in February 2021, RPDT is essentially a tax to be paid by residential property developers, which is intended to repay the government for the costs of remedying dangerous cladding on high-rise buildings. Sadly, it took the Grenfell Tower tragedy in 2017 for the dangers to come to light.
The ECA received Royal Assent on 15 March 2022 and covers three main areas – the creation of the Register, amendments to the unexplained wealth orders regime, and amendments to the sanctions regime. This note provides a brief overview of the Register, how lenders will be affected, and some practical steps lenders may wish to take.
