Early notice risk
DeLaney, C.
Early notice risk - 2001 - Property Week 66(36) 7 September 2001, 138(1) .
Considers CA ruling in "Omar v El-Wakil" highlighting the role of the deposit in land contracts, and the risks of serving 'notices to complete' prematurely. Parties must ensure they are 'ready, able and willing to complete' on the date specified in a notice to complete. Outlines the circumstances in which the court is prepared to exercise its discretion under Law of Property Act 1925 s49(2) and order the return of a purchaser's deposit - even to a defaulting buyer.
OMAR V EL-WAKIL
DEPOSITS
NOTICE TO COMPLETE
NOTICES TO QUIT
LAW OF PROPERTY ACT 1925 S49(2)
LAND CONTRACTS
Early notice risk - 2001 - Property Week 66(36) 7 September 2001, 138(1) .
Considers CA ruling in "Omar v El-Wakil" highlighting the role of the deposit in land contracts, and the risks of serving 'notices to complete' prematurely. Parties must ensure they are 'ready, able and willing to complete' on the date specified in a notice to complete. Outlines the circumstances in which the court is prepared to exercise its discretion under Law of Property Act 1925 s49(2) and order the return of a purchaser's deposit - even to a defaulting buyer.
OMAR V EL-WAKIL
DEPOSITS
NOTICE TO COMPLETE
NOTICES TO QUIT
LAW OF PROPERTY ACT 1925 S49(2)
LAND CONTRACTS