Demystifying Will Formalities

135 year old law firm appoint Family Solicitor as Partner

The fast-tracked Economic Crime (Transparency and Enforcement) Act 2022 received Royal Assent on 15th March 2022, creating a new public Register of Overseas Entities (the OE Register). UK entities already have an obligation to disclose their beneficial ownership information under the PSC (People with Significant Control) regime however, this new register will apply where the UK property is held by a non-UK legal entity. This register will capture any overseas entities who hold freehold titles or leasehold titles of longer than seven years in England and Wales (a Qualifying Estate). The register will document the name, address and start date of the person who is the beneficial owner as well as the nature of the person’s ownership. This information must then be updated every 12 months. The scope of a Qualifying Estate is wide-reaching. For any Qualifying Estate that has been acquired since 1999 and still owned by an overseas entity, then that entity will be required to register. Additionally, any property dealings post 28th February 2022 will require the overseas entity to be registered.  It is not yet clear when the register will be implemented but with the deadline for compliance six months from implementation, overseas entities that could be caught by the new legislation should assess their position immediately to ensure compliance. If you require further information please contact our Conveyancing department on rsnipe@blackhams.com or telephone 0121 233 6912.

Understanding Banks vs. Goodfellow | A Guide to Testamentary Capacity and Its Relevance in Modern Contested Probate Cases.

Tenants’ break clauses, giving tenants the right to bring their lease to an end early are becoming increasingly common in commercial leases with the object of giving the tenant a degree of flexibility in relation to their rented premises. It is vital to get things right both when the break clause is being drafted before the lease is granted and when seeking to operate the break. From the tenants’ point of view any conditions attached to their ability to operate the break clause should be kept to an absolute minimum. Landlords will always insist that the rent (and probably other payments) due under the lease must be up to date and that possession of the premises is given up by the break date (which in practice means clearing the property completely) but other conditions such as compliance with all of the other tenant’s covenants in the lease (e.g. the covenant to keep in full repair) should be resisted by the tenant at the negotiation stage. Other considerations are whether the break opportunity is to be a one-off on a specific date or if it will be a “rolling break” which could be operated at any time after a certain date and the length of notice that must be given to the landlord.