Are you thinking about buying a property at auction? On the fall of the auctioneers hammer a buyer will then be under a legal obligation to buy the property 'warts and all'. A completion date is fixed at the auction and a buyer has to comply with...
Commercial rent arrears recovery legislation aims to overhaul the ways in which landlords of commercial properties can recover outstanding debts from their tenants.
The commercial rent arrears recovery legislation means that landlords must give their tenants seven days’ notice before taking action. The concern for landlords is that this gives tenants the opportunity to put their high value goods out of reach of the bailiffs.
A landlord can take the case to court, and request a shorter notice period, if they can present a viable case that the tenants are likely to remove their valuable assets from the property before the commercial rent arrears recovery is exercised.
Additionally, a tenant can challenge the commercial rent arrears recovery notice, and if they are successful, the landlord may be told that the recovery cannot take place without the permission of the court.