Traps of offer-backs
Rutler, J.
Traps of offer-backs - 2002 - Property Week 67(7) 22 February 2002, 38-39(2) .
Using recent case "Bircham & Co Nominees (No 2) Ltd and Sarah Stowell v Worrell Holdings Ltd", warns landlords of losing their rights of pre-emption. A landlord thought he was accepting an offer-back, but lost his rights on a technicality, concerning the date of acceptance on an offer-back. Offer-backs are generally used so that a landlord can block the transfer of a lease to a tenants' chosen assignee. Suggests landlords remember that a conditional acceptance is not an acceptance at all.
LAW OF PROPERTY (MISCELLANEOUS PROVISIONS) ACT 1989
OFFER BACK CLAUSES
PRE-EMPTION
BIRCHAM AND CO NOMINEES (NO 2) LTD AND ANOTHER V WORRELL HOLDINGS LTD
Traps of offer-backs - 2002 - Property Week 67(7) 22 February 2002, 38-39(2) .
Using recent case "Bircham & Co Nominees (No 2) Ltd and Sarah Stowell v Worrell Holdings Ltd", warns landlords of losing their rights of pre-emption. A landlord thought he was accepting an offer-back, but lost his rights on a technicality, concerning the date of acceptance on an offer-back. Offer-backs are generally used so that a landlord can block the transfer of a lease to a tenants' chosen assignee. Suggests landlords remember that a conditional acceptance is not an acceptance at all.
LAW OF PROPERTY (MISCELLANEOUS PROVISIONS) ACT 1989
OFFER BACK CLAUSES
PRE-EMPTION
BIRCHAM AND CO NOMINEES (NO 2) LTD AND ANOTHER V WORRELL HOLDINGS LTD