Commercial deposit new landlord

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  • Commercial deposit new landlord

    My lease ended in December. At last minute landlord sold lease. Requirement in my lease that new landlord must sign new deposit deed, and requirement that i sign the deed. New Deed was never entered into before my lease expired. New landlord trying to hold back my deposit which is significant. Can they force me post expiry to sign a deed when the lease has ended and my obligations under the lease have ended? Should they be holding my despot if deed never entered into. Still getting interest letters from old landlord confirming what amounts are due to me at expiry of lease. Any help appreciated.

  • #2
    2 issues with your statement...

    1) either your lease has continued under the provisions of the Landlord and Tenant Act 1954 - your obligations remain and you're required to give 3 months notice if you intend to vacate.

    2) If your lease was contracted outside the Landlord and Tenant Act 1954 then you're trespassing.

    In any event. Deposit should have been accounted for at completion, lease and deposit deed should make reference to landlord and successors in title. No need necessarily to need a new rent deposit deed. What does the lease specifically state in relation to this requirement for a new rent deposit deed?
    [I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]

    Comment


    • #3
      Thank you for your response. Old landlord had already invoked break clause. Lease ended in dec and I vacated in dec.

      From my perspective lease is at an end.

      Lease says that landlord may transfer the reversion, the rent deposit deed shall also be assignable, and if so assigned "the landlord shall procure they the transferee will covenant at its sole expense with the tenant in the same terms as if the transferee had sealed this deed and the tenant will subject to being indemnified for all costs arising therefrom execute and deliver to the landlord a deed releasing the landlord from any further liability under this deed. The tenant hereby appoints the landlord or delegates to execute the deed mentioned in this clause.

      I have never been notified of this nor have I signed any deed of release. Now that the lease is at an end, where do I stand.

      Original landlord was going to demolish building and did not require any repair or redecoration. 4 weeks before expiry I was informed building had been sold and 10 days before expiry new landlord got in touch thro surveyor. 7 days before expiry surveyor inspected property with purpose of giving me clear indication what needed to be done. he led me to believe that premises were in acceptable condition. Now 6 weeks later I am facing a delapidations schedule of over £8000. Any help appreciated. Am hardworking and had to move my business elsewhere at considerable cost to me.


      Originally posted by MrJohnnyB View Post
      2 issues with your statement...

      1) either your lease has continued under the provisions of the Landlord and Tenant Act 1954 - your obligations remain and you're required to give 3 months notice if you intend to vacate.

      2) If your lease was contracted outside the Landlord and Tenant Act 1954 then you're trespassing.

      In any event. Deposit should have been accounted for at completion, lease and deposit deed should make reference to landlord and successors in title. No need necessarily to need a new rent deposit deed. What does the lease specifically state in relation to this requirement for a new rent deposit deed?

      Comment


      • #4
        Has the new owner of the building submitted plans to redevelop the property?
        [I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]

        Comment

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