This work gives clear, practical guidance on the law and procedure relating to break clauses in commercial leases. It offers step-by-step guidance for practitioners advising on the drafting, exercise, validity and interpretation of break clauses in tenancy agreements, a complex and often contentious area of landlord and tenant law. Clear advice is given throughout on how to deal with the situations that can arise in daily practice. This book:
- Deals with all aspects of break clauses in commercial leases – and contains guidance on break clauses in residential tenancies
- Covers the law from both landlords' and the tenants' perspectives, enabling practitioners to advise either party
- Advises on drafting break clauses and break notices, and on the pitfalls of certain approaches
- Includes a set of precedent clauses and notices
- Gives guidance on interpreting break clauses and break notices
- Explains how break clauses relate to other clauses in the lease, such as rent review clauses and repair covenants
- Discusses the effect of exercising a break notice on the obligations of landlord and tenant
- Goes through the formalities and the possible registration requirements of break clauses
- Considers the procedure for serving a break notice and the consequences of failing to comply with that procedure
- Explains the interrelationship between break clauses and the security of tenure procedures under the Landlord and Tenant Act 1954.
Introduction to Break Clauses; Formalities & Registration; The Parties Who Should Serve & Be Served With a Break Notice; The Form & Service of the Break Notice; Time for Service of a Break Notice; Conditions Precedent to the Exercise of a Break Clause; The Effect of Exercising a Break Notice; Break Clauses and the Landlord and Tenant Act 1954; Drafting Break Clauses in Practice.
Jurisdiction: England & Wales