Quarter Day – September 2017

Welcome to the September 2017 edition of our Quarter Day newsletter.

Fladgate LLP Quarter Day September 2017

• Is your building WELL?
  The WELL Building Standard is the first building standard which focuses on the health and wellbeing of the building occupants and gives a ‘wellness’ rating for buildings. [read more] 
• Adverse possession – how a trespasser can become an owner
  Could you trespass on someone else’s land, act as the owner of it for a long time and on that basis become recognised officially as the new owner? [read more]
• Give me my property back! When you find out somebody else owns “your” property
  A registered proprietor of land owns the legal and beneficial interest to that land. When this principle was conceived it was quipped that “instead of the citizen telling the state who owns the land, the state will henceforth tell the citizen”. [read more]
• Car parking: display or pay!
  The owner of a shop claimed rights to park on an adjoining car park on the basis that it had acquired rights to do so over a period of 20 years’ use. [read more]
  
• Underground, overground, wombling free… 
  “It ain’t quite heaven but it’s the closest I’ve been” (as sung in “Underground” from the West End musical Memphis) would be an accurate description of some of the luxury underground basement extensions seen around London’s wealthiest streets. [read more]
• How do I rate thee? Let me count the ways
  Business rates, or non-domestic rates, are charged on most non-domestic properties and are calculated by looking at the property’s “rateable value” i.e. its open market rental value. [read more]
• ASTs – Are you assured of compliance?
  Assured Shorthold Tenancies (ASTs) are the most common kind of private residential tenancy in the UK currently, which means that almost any investor or funder in the UK residential property market will deal with them. [read more]  
• Understanding insurance indemnity principles and providing lender protection
  Real estate finance lenders need to achieve three things: first ranking security over the real estate asset; maintenance of the real estate asset’s value by ensuring all damage is reinstated (and insurance proceeds applied accordingly); and fixed security over any lump sum payment. [read more] 

Updates for real estate professionals