Lynch and another v Castlebeg Investments (Jersey) Ltd
Lynch and another v Castlebeg Investments (Jersey) Ltd
- 1988
- Estates Gazette (8803) 23 January 1988, 101-103(2) .
LVT/876/1/85 3 June 1987. An application by the tenants (L) for determination of price payable for the freehold of a house in Cardiff. L in arriving at their decision, capitalised the ground rent by using 7% producing a multiple of 14.3, giving 572, to which was added 62 for the reversionary interest. At issue, was the question of insurance commission . The tenants argued that once the freehold was sold, the part of the agency commission which covered administration etc, would disappear. Therefore, payment of compensation to the landlord for its loss was not necessary. The landlord`s valuer relied on the decision in Re Castlebeg Investments (Jersey) Ltd`s Appeal , where the LT had allowed that the purchaser could obtain a commission on a single insurance premium. On reaching a decision, the present tribunal accepted it was now bound by the above decison as long as they had sufficient evidence that the purchaser of the freehold reversion could obtain commission on the insurance premiu
LVT/876/1/85 3 June 1987. An application by the tenants (L) for determination of price payable for the freehold of a house in Cardiff. L in arriving at their decision, capitalised the ground rent by using 7% producing a multiple of 14.3, giving 572, to which was added 62 for the reversionary interest. At issue, was the question of insurance commission . The tenants argued that once the freehold was sold, the part of the agency commission which covered administration etc, would disappear. Therefore, payment of compensation to the landlord for its loss was not necessary. The landlord`s valuer relied on the decision in Re Castlebeg Investments (Jersey) Ltd`s Appeal , where the LT had allowed that the purchaser could obtain a commission on a single insurance premium. On reaching a decision, the present tribunal accepted it was now bound by the above decison as long as they had sufficient evidence that the purchaser of the freehold reversion could obtain commission on the insurance premiu