Bistern Estate Trust's Appeal
Bistern Estate Trust's Appeal
- 2000
- Estates Gazette Law Reports [2000] 29 EG 124-127(4) .
LT 27 March 2000. L was granted a building lease for a 70-year term of a house. The lease was terminable on the death of the leaseholder and his wife. L died in 1995, and the tenant's widow, Mrs L served notice to acquire the freehold interest under the Leasehold Reform Act 1967. The leasehold valuation tribunal determined the price at £47,684. The landlord appealed contending that the price payable was £180,000, or alternatively £159,000. The higher sum would apply if the Law of Property Act 1925 S149(6) operated, so that the landlord, now tenant L was dead, could terminated the lease with one month's notice, thus making the leasehold interest worthless. The lower value would apply if the lease was not terminated until Mrs L's death. 'Decision' appeal allowed and price determined at £159,000.
BISTERN ESTATE TRUST
LAW OF PROPERTY ACT 1925 S149(6)
MARRIAGE VALUE
CAPITALISATION
GROUND RENT
REVERSION
LT 27 March 2000. L was granted a building lease for a 70-year term of a house. The lease was terminable on the death of the leaseholder and his wife. L died in 1995, and the tenant's widow, Mrs L served notice to acquire the freehold interest under the Leasehold Reform Act 1967. The leasehold valuation tribunal determined the price at £47,684. The landlord appealed contending that the price payable was £180,000, or alternatively £159,000. The higher sum would apply if the Law of Property Act 1925 S149(6) operated, so that the landlord, now tenant L was dead, could terminated the lease with one month's notice, thus making the leasehold interest worthless. The lower value would apply if the lease was not terminated until Mrs L's death. 'Decision' appeal allowed and price determined at £159,000.
BISTERN ESTATE TRUST
LAW OF PROPERTY ACT 1925 S149(6)
MARRIAGE VALUE
CAPITALISATION
GROUND RENT
REVERSION