Financiamiento inmobiliario

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  30.03.2023

  Reino Unido

  Leon v Ke­n­si­n­g­ton Mo­r­t­ga­ge Co­m­pa­ny Ltd & Anor (2023) and the co­n­ce­pt of su­b­ro­ga­tion

  This briefing considers the concepts of "subrogation" and "bona vacantia" which were discussed in the recent case of Leon v Kensington Mortgage Company Ltd & Anor [2023] EWHC 121 (Ch). Where a surety or guarantor has to make a payment of the liabilities it has guaranteed to a third party, it will look to the principal debtor to reimburse it for that payment and to assist with this, the surety will have a right to be subrogated in relation to any security also held by the beneficiary of the guarantee. The beneficiary will want to ensure that these rights of subrogation only apply once they have...

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  07.03.2023

  England and Wales

  The si­m­p­le an­s­wer is the co­r­re­ct an­s­wer – The Su­p­re­me Court co­n­fi­r­ms the sco­pe of Re­nt Re­pa­y­me­nt Or­de­rs in Ra­ku­sen v Je­p­sen

  The Supreme Court was recently asked to determine whether Rent Repayment Orders (“RROs”) could be made not merely against a tenant’s immediate landlord but, also, against the superior landlord who might have little to no involvement in the day-to-day running of that tenancy. Such an outcome would give tenants far greater power to retaliate against rogue landlords while, perhaps, adversely affecting the growing rent-to-rent market.BackgroundThe purpose of RROs is to protect tenants by penalising landlords who commit one of a number of housing related offences. The most common offence...

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  07.02.2023

  United Kingdom

  HM­RC up­da­te gui­da­n­ce on whe­ther of­f­sho­re unit tru­s­ts are re­qui­red to re­gi­s­ter on the Tru­st Re­gi­s­t­ra­tion Se­r­vi­ce

  HMRC have updated their Trust Registration Service (“TRS”) manual to state that unauthorised unit trusts (such as JUTs and GUTs) will need to consider whether they are required to register trust details on the TRS. Previous guidance stated that “unit trusts both authorised and unauthorised are not required to register”. We understand that the reason for this change is that, previously, HMRC had considered unit trusts not to be “express trusts”. If trustees have no UK tax liability, they will only be required to register trust details on the TRS if the trust is...

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  30.01.2023

  England and Wales

  Be awa­re of the key da­te of 1 Ap­ril 2023 for MEES and co­m­me­r­cial pro­pe­r­ty

  Summary1 April 2023 is an important date in the application of minimum energy efficiency standards (MEES) to commercial property in England and Wales. From 1 April 2023, there will be a prohibition on landlords of commercial property continuing to let properties (whenever the lease was first entered into) with an energy performance certificate (EPC) rating of either ‘F’ or ‘G’ (i.e. that is “sub-standard”), unless certain exemptions apply.Further details1 April 2023 is an important date in the application of MEES to commercial property in England and Wales. From...

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  19.01.2023

  Reino Unido

  ABT Au­to In­ve­s­t­me­n­ts Ltd v Aa­pi­co In­ve­s­t­me­nt Pte Ltd – im­po­r­ta­n­ce of ag­reei­ng co­m­me­r­cia­l­ly reaso­na­b­le va­lua­tion me­tho­ds

  In this Law-Now we discuss the recent case of ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm) which involved the remedy of appropriation, an enforcement option available under the Financial Collateral Arrangements Regulations (“FCARs”). Appropriation may be used where security is created or arises under a security financial collateral arrangement and this is agreed between the parties. The FCARs were introduced in the UK to implement EU directives, the purpose of which was to simplify the process of taking security over financial collateral across the...

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  05.01.2023

  Reino Unido

  Im­po­r­ta­nt dea­d­li­ne im­mi­ne­nt for Eco­no­mic Cri­me Act

  Summary The Economic Crime (Transparency and Enforcement) Act 2022 has set up a new Companies House register for overseas entities that own certain property registered at the Land Registry in England and Wales or the Land Registers of Scotland or Northern Ireland. The Companies House register contains information about the entity and its beneficial owners and the Act impacts on real estate transactions and their registration. There is an important deadline on 31 January 2023 for applications to Companies House to register on the new register and failure to do so may lead to criminal penalties....

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