Worries for tenant when landlord goes bust
“The insolvent tenant enjoys more column inches in the legal press and law reports than the insolvent landlord…”
Thus writes Jayne Elkins, of Field Fisher Waterhouse, in
High on the list, understandably, is the upkeep of insurance on the building and the precise status of a rent deposit, if given. Technical problems include impediments to actions against the landlord and identifying the correct party to proceedings under the Landlord and Tenant Act 1954. Dealings with a superior landlord following the termination of a headlease receive particular attention.
File carefully.
Worries for tenant when landlord goes bust
“The insolvent tenant enjoys more column inches in the legal press and law reports than the insolvent landlord…”
Thus writes Jayne Elkins, of Field Fisher Waterhouse, in How to prepare for your landlord’s crisis Estates Gazette 4 January 2003, p60, in which she considers a number of the headaches that a landlord’s insolvency can inflict upon a tenant.
High on the list, understandably, is the upkeep of insurance on the building and the precise status of a rent deposit, if given. Technical problems include impediments to actions against the landlord and identifying the correct party to proceedings under the Landlord and Tenant Act 1954. Dealings with a superior landlord following the termination of a headlease receive particular attention.
File carefully.
