Acting to stop harm: the FCA and Appointed Representatives
The Secretary of State for Housing, Communities and Local Government, Rt Hon James Brokenshire MP, has asked the Law Commission to undertake a broad review of Right to Manage legislation and suggest reforms to improve its use in practice and increase its popularity amongst tenants.
The Court of Appeal has handed down its much awaited judgment in what has become known as the ‘Dreamvar’ case (Dreamvar (UK) Ltd v Mishcon de Reya and others). The case is of interest to property and insurance professionals as well as the wider public as it concerned a fraudulent property transaction, an increasingly common occurrence. Given its importance to all conveyancing practitioners, but specifically smaller practices, the Law Society intervened so as to be able to make representations on behalf of the profession.
The importance of obtaining legal advice when exercising a break right in a lease cannot be overstated. Despite the flurry of case law in this area in recent years, tenants are still getting their fingers burnt and finding themselves tied into leases, with all the associated commitments, having failed to comply strictly with the requirements of the lease. It can prove to be a very costly mistake to make for the sake of perhaps trying to save what were considered to be unnecessary legal fees.
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