(1) Pitts and another v Earl Cadogan (2) Earl Cadogan v Atlantic Telecasters Ltd [electronic resource]
(1) Pitts and another v Earl Cadogan (2) Earl Cadogan v Atlantic Telecasters Ltd [electronic resource]
- 2007
[2007] EWLands LRA_4_2007 (21 May 2007), 21 May 2007. Considers the price to be paid by tenants on leasehold enfranchisement claims. In both cases the landlords argued that an element of hope value should be contained within the valuation to reflect the option that it would otherwise have to sell the freehold or a leasehold extension in the future. The landlords submitted that determination of the open market value should be made, including hope value; that marriage value should be calculated as the difference between that sum and the value of possession of the freehold; and that the difference should be attributed between the landlord and tenant. "Held": Under the Leasehold Reform Act 1967 s9(1D) an even sharing of marriage value between landlord and tenant is prescribed. This provision, in the absence of reference to hope value, implies that the marriage value is to be decided without hope value. There is no basis in law for the provision of hope value. Judgment to the tenants Pitts and another and Atlantic Telecasters Ltd.
LEASEHOLD REFORM ACT 1967
EARL CADOGAN AND ANOTHER V SPORTELLI AND ANOTHER
PITTS AND ANOTHER V EARL CADOGAN
EARL CADOGAN V ATLANTIC TELECASTERS LTD
England and Wales--1543-
[2007] EWLands LRA_4_2007 (21 May 2007), 21 May 2007. Considers the price to be paid by tenants on leasehold enfranchisement claims. In both cases the landlords argued that an element of hope value should be contained within the valuation to reflect the option that it would otherwise have to sell the freehold or a leasehold extension in the future. The landlords submitted that determination of the open market value should be made, including hope value; that marriage value should be calculated as the difference between that sum and the value of possession of the freehold; and that the difference should be attributed between the landlord and tenant. "Held": Under the Leasehold Reform Act 1967 s9(1D) an even sharing of marriage value between landlord and tenant is prescribed. This provision, in the absence of reference to hope value, implies that the marriage value is to be decided without hope value. There is no basis in law for the provision of hope value. Judgment to the tenants Pitts and another and Atlantic Telecasters Ltd.
LEASEHOLD REFORM ACT 1967
EARL CADOGAN AND ANOTHER V SPORTELLI AND ANOTHER
PITTS AND ANOTHER V EARL CADOGAN
EARL CADOGAN V ATLANTIC TELECASTERS LTD
England and Wales--1543-