000			01240cab a22002175a 4500
001			L138754
008			070709s2007 xxk f 000 0 eng d
035			_a(Sirsi) u138754
041	0		_aeng
100	1		_aWebb, Phil
245	0	4	_aThe difference between a reserve fund and a surplus fund
260			_c2007
490			_aLovells Real Estate Quarterly _vJune 2007, 8-9(2)
520			_aHighlights a recent legal case which examined the ownership of an accrued excess paid on annual service charges. The question was whether the excess remained the property of the tenant or should be treated as a reserve fund held by the landlord. It was found that although reserve funds will belong to the landlord and not be returned to the tenant, surplus service charge should be paid back. This was in the case of no specific lease terms stating otherwise. Makes reference to the RICS Code of Practice on service charges.
590			_aKA
650	2	4	_aBROWN'S OPERATING SYSTEM SERVICES LTD V SOUTHWARK ROMAN CATHOLIC DIOCESAN CORPORATION
650	2	4	_aSECRETARY OF STATE FOR THE ENVIRONMENT V POSSFUND
651		4	_aUnited Kingdom _y
690			_aPROPERTY-COMMERCIAL PROPERTY-COMMERCIAL LANDLORD AND TENANT-COMMERCIAL LEASES
942			_n0
999			_c78981 _d78981