Article Abstract:
UK legislation on contracts has changed so the term caveat emptor is less applicable. Some contract terms cannot be enforced, following the 1977 Unfair Contract Terms Act. Enforceability depends on reasonableness. The regulations relate to contract terms which are not the subject of individual negotiation. They do not apply to specific types of contract such as succession rights, employment, family law, and incorporating businesses. UK auctioneers tend to use standard contracts which are not the result of negotiation between individuals so the law could apply in this case.
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Article Abstract:
It is very important to follow the proper procedure for the sale of qualifying residential investments by public auction in cases where tenants have a right of first refusal. This procedure is contained in the UK's Housing Act 1996. If the landlord plans to make a relevant disposal by auction, notice has to be served under s5B not less than four and not more than six months before the date of the auction. This notice must give details of the main terms of the disposal and indicate that the disposal will take place by auction.
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Article Abstract:
Ground rent investment has traditionally had an image of being very boring, but can in fact offer many advantages. Anyone considering ground rent investment should do extensive research first, paying particular attention to the way in which the lease is drafted. It is important to inspect the title plans before making a purchase, and to make a site inspection.
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