Waitt and another v Morris and another
Waitt and another v Morris and another
- 1994
- Estates Gazette (1994) 39 EG 140-142(3) .
LT 3 August 1994. W were leaseholders of a flat and applied for a 90-year lease extension at a peppercorn rent. Applying for a determination of the price payable, W`s valuer suggested a marriage value of £2000, being the difference between the current open market value and value of the extended lease, and that M should take 50% share. W also sought a covenant requiring M to give notice of any forfeiture proceedings. As a prospective purchaser had offered a higher sum for the lease than the extended value, the marriage value and landlord`s share were raised by the LT and unpaid arrears of rent awarded. The requested covenant was deemed unnecessary.
DETERMINATION OF PRICE
LEASE EXTENSION
LEASEHOLD REFORM, HOUSING AND URBAN DEVELOPMENT ACT 1993
MARRIAGE VALUE
OPEN MARKET VALUE
PEPPERCORN RENT
LT 3 August 1994. W were leaseholders of a flat and applied for a 90-year lease extension at a peppercorn rent. Applying for a determination of the price payable, W`s valuer suggested a marriage value of £2000, being the difference between the current open market value and value of the extended lease, and that M should take 50% share. W also sought a covenant requiring M to give notice of any forfeiture proceedings. As a prospective purchaser had offered a higher sum for the lease than the extended value, the marriage value and landlord`s share were raised by the LT and unpaid arrears of rent awarded. The requested covenant was deemed unnecessary.
DETERMINATION OF PRICE
LEASE EXTENSION
LEASEHOLD REFORM, HOUSING AND URBAN DEVELOPMENT ACT 1993
MARRIAGE VALUE
OPEN MARKET VALUE
PEPPERCORN RENT