|Losing the plot|
This is a new lease granted by a freeholder even though there is a lease already in existence.
There are two main reasons why this might be required namely:
- the original lessee has defaulted resulting in loss to the guarantor or previous lessee.
- facilitating a lease extension and avoiding potentially adverse tax consequences
The issue can be complex particularly if other parties are involved.
At Hart Brown we are regularly involved in the granting and acquiring of overriding leases and have facilitated very satisfactorily results for landlords and lessees.