Wills & Trusts Law Reports | June 2016 #160Lady Hood was the lessee of the property in Chelsea (‘the property’) pursuant to a lease (‘the head lease’) dated 21 September 1979 and made between (1) Viscount Chelsea (‘the head lessor’) (2) the Chelsea Land & Investment Company Limited (‘Chelsea land”); (3) Cadogan Holdings Company (‘Cadogan’) and (4) Lady Hood. The head lease contained a covenant by the lessee not to transfer underlet or part with possession of part of the demised premises without consent of Cadogan. The head lease also contained a right for the head lessor or the Company to forfeit the head lease for breaches o...
Wills & Trusts Law Reports | April 2014 #138On 5 June 1996 Mrs Kamhi purchased a lease (the headlease) of a flat in Knightsbridge, London. On 21 November 1997 Mrs Kamhi granted an underlease (the underlease) to Ovalap Nominees Ltd. The underlease was granted without rent or premium being payable. On the same day Mrs Kamhi created by deed a settlement. The trustee was Legis Trust Ltd and the trust property was the underlease. Ovalap entered into the underlease as bare nomiee for Legis Trust Ltd.
On 24 March 2004 Parkside (Knightsbridge) Residents Ltd then granted Mrs Kamhi a new lease over the flat commencing 1 April 2003. ...
Guy Abrahams assesses Buzzoni v HMRC, which indicates the court’s current attitude towards reversionary lease schemes ‘If Mrs Kamhi had not been required by her landlord to obtain covenants from the tenant, and therefore been able to grant Ovalap a covenant-free underlease, it seems that the underlease would have achieved its intended purpose.’ The case …
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Wills & Trusts Law Reports | January/February 2013 #126On 5 June 1996 Mrs Kamhi purchased a lease (the headlease) of a flat in Knightsbridge, London. On 21 November 1997 Mrs Kamhi granted an underlease (the underlease) to Ovalap Nominees Ltd. The underlease was granted without rent or premium being payable. On the same day Mrs Kamhi created by deed a settlement. The trustee was Legis Trust Ltd and the trust property was the underlease. Ovalap entered into the underlease as bare nominee for Legis Trust Ltd.
On 24 March 2004 Parkside (Knightsbridge) Residents Ltd then granted Mrs Kamhi a new lease over the flat commencing 1 April 2003. ...
