Buying property with crypto – are we transforming real estate?
Following on from last week’s blog and checklist, Break Clauses in Commercial Property, this blog summarises two of the key recent cases in this area, relating to the payment of sums due as well as highlighting some of the commercial aspects to bear in mind when a right to exercise a break clause in a lease is on the horizon.
Break clauses are a common part of the commercial landscape during negotiations for the grant of a lease of commercial property. Daniel Moan explains.
As of 22 April 2014, the County Court Jurisdiction Order 2014 will come into force revoking the County Courts Jurisdiction Order 1981. This will mean that jurisdiction of the value of property cases being heard in the County Courts shall be increased from £30,000 to £350,000.
Distress is an ancient remedy whereby a landlord can instruct bailiffs to enter the demised property to seize the tenant’s goods when the tenant is in arrears of rent. On 6 April 2014 this age old law will be abolished and following the implementation of Part 3 of the Tribunals Courts and Enforcement Act 2007, a new statutory regime for Commercial Rent Arrears Recovery (CRAR) will come into force.
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