| 000 | 01387cam a2200277 4500 | ||
|---|---|---|---|
| 001 | ABS68257 | ||
| 008 | 040915n2004 000 0 eng u | ||
| 035 | _a(Sirsi) u127402 | ||
| 100 | _aO'Brien, S. | ||
| 245 | _aDon't sign up to assignments | ||
| 260 | _c2004 | ||
| 490 |
_aEstates Gazette _v(0432) 7 August 2004, 57-58(2) |
||
| 520 | _aA prelet agreement can be an important asset to lenders, since it reduces the risk that once a property is built, it will fail to generate the income to service the loan. But the article argues lenders should be wary of seeking an assignment of the benefit of such agreements. Outlines the dangers this could present and discusses ensuring security, enforcement of covenants, danger of assigning the prelet agreement and personal covenants. Concludes that an assignment of a prelet agreement is risky because it may remove the choices from the lender to step in under its warranty package, or to go into possession as mortgagee and oblige them to build the development. | ||
| 590 | _aABS | ||
| 590 | _aABS | ||
| 650 | _aLANDLORD AND TENANT (COVENANTS) ACT 1995 | ||
| 650 | _aENFORCEMENT OF COVENANTS | ||
| 650 | _aPRELET AGREEMENTS | ||
| 650 | _aASSIGNMENT | ||
| 650 | _aLENDERS | ||
| 650 | _aCOVENANTS | ||
| 650 | _aPERSONAL COVENANTS | ||
| 650 | _aSECURITY FOR LOAN | ||
| 690 | _aLANDLORD AND TENANT-LEASES | ||
| 942 | _n0 | ||
| 999 |
_c118001 _d118001 |
||