System Floors Ltd v Ruralpride Ltd and another
System Floors Ltd v Ruralpride Ltd and another
- 1995
- Estates Gazette 1995 EG 125-128(4) .
CA 18 October 1994. On 23 April 1987, tenant S signed three 21-year leases containing upwards-only rent reviews, covenants against assignment and no surrender agreement clauses. On the same day landlord M agreed to accept surrender of leases within three months of a rent review date upon certain terms. On 10 November respondent landlord R acquired the reversion of the lease without knowledge of the side letter. On appeal against CC determination that the letter was personal to M and not binding on his successor in title to reversion, CA ruled that the covenant was enforcable as it fell within Law of Property Act 1925 s142. Appeal allowed.
ASSIGNMENT
LAW OF PROPERTY ACT 1925 S142
NO SURRENDER CLAUSE
RENT REVIEWS
SIDE LETTER
SUCCESSOR IN TITLE
UPWARDS-ONLY
CA 18 October 1994. On 23 April 1987, tenant S signed three 21-year leases containing upwards-only rent reviews, covenants against assignment and no surrender agreement clauses. On the same day landlord M agreed to accept surrender of leases within three months of a rent review date upon certain terms. On 10 November respondent landlord R acquired the reversion of the lease without knowledge of the side letter. On appeal against CC determination that the letter was personal to M and not binding on his successor in title to reversion, CA ruled that the covenant was enforcable as it fell within Law of Property Act 1925 s142. Appeal allowed.
ASSIGNMENT
LAW OF PROPERTY ACT 1925 S142
NO SURRENDER CLAUSE
RENT REVIEWS
SIDE LETTER
SUCCESSOR IN TITLE
UPWARDS-ONLY