"Sale to rent back" schemes

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    "Sale to rent back" schemes

    This might sound like a bit of a silly question, but I am confused by what a few things mean.

    I have come across the terms. STRB, SRB and SARB now SRB and SARB I think mean the same thing, which is SALE AND RENT BACK. However, STRB seems to be talked about in the same context, what does it stand for?

    And can anyone point me in the right direction to a good property abbreviations and/or glossary list.

    many thanks.

    #2
    Originally posted by Mad Max View Post
    I have come across the terms. STRB, SRB and SARB now SRB and SARB I think mean the same thing, which is SALE AND RENT BACK. However, STRB seems to be talked about in the same context, what does it stand for?
    Sell To Rent Back, presumably?

    I don't think you'll find any "official" glossary of abbreviations - people just make these things up as they go along.

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      #3
      I did see a TV ad where they 'promised' you would be 'guaranteed' 10 years rent back if you sold to their company, but I don't know the details or how it would be enforced if the company went belly-up.

      Maybe Jeffrey would know the legalities of such a guarantee?

      Yet another example of how right George Orwell was about news-speak or as they call it now management-speak. To be in the know of whatever group, you have to learn the language or be marked out as an outsider, plus what a good way to hide lies, lies and more damn lies!

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        #4
        Originally posted by bagpuss View Post
        I did see a TV ad where they 'promised' you would be 'guaranteed' 10 years rent back if you sold to their company, but I don't know the details or how it would be enforced if the company went belly-up.

        Maybe Jeffrey would know the legalities of such a guarantee?
        They think, "Promises are mere advertising puffery and not legally binding; customers know and accept that."
        We think, "Promises can be legally binding. See Carlill v. Carbolic Smoke Ball Company (one of the first Contract Law cases that every first-year Law student learns and remembers)".
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

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          #5
          But what if the company disappears, stops trading, goes into receivership??? What good are the guarantees then, Jeffrey?

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            #6
            Originally posted by bagpuss View Post
            But what if the company disappears, stops trading, goes into receivership??? What good are the guarantees then, Jeffrey?
            True. That's why I wouldn't recommend you to trust them! This has no bearing on legal validity, you realise.
            Really, the "ten-year rent back" must be treatable as saying that P will let V have ten rent-free years. Is that at all plausible?
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


              #7
              Originally posted by jeffrey View Post
              See Carlill v. Carbolic Smoke Ball Company (one of the first Contract Law cases that every first-year Law student learns and remembers)".
              Ah, good old Carlill v. Carbolic Smoke Ball Co [1893] 1 QB 265.

              Hang on, no wonder Jeffrey remembers it! He was a first year law student when that case was reported.
              Health Warning


              I try my best to be accurate, but please bear in mind that some posts are written in a matter of seconds and often cannot be edited later on.

              All information contained in my posts is given without any assumption of responsibility on my part. This means that if you rely on my advice but it turns out to be wrong and you suffer losses (of any kind) as a result, then you cannot sue me.

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                #8
                Originally posted by agent46 View Post
                Ah, good old Carlill v. Carbolic Smoke Ball Co [1893] 1 QB 265.

                Hang on, no wonder Jeffrey remembers it! He was a first year law student when that case was reported.
                It must be odd for a family surname to be remembered for ever after as the eponym of a famous conveyancing/contract/L&T/etc. civil court case: not just Carlill but also Donoghue/M'Callister/Stevenson (negligence); Rylands/Fletcher (nuisance); Street/Mountford (lease/licence).

                Sorry but no other cases come to mind. It's late, you know...
                JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                4. *- Contact info: click on my name (blue-highlight link).

                Comment


                  #9
                  Originally posted by jeffrey View Post
                  It must be odd for a family surname to be remembered for ever after as the eponym of a famous conveyancing/contract/L&T/etc. civil court case: not just Carlill but also Donoghue/M'Callister/Stevenson (negligence); Rylands/Fletcher (nuisance); Street/Mountford (lease/licence).

                  Sorry but no other cases come to mind. It's late, you know...
                  I once had a horrible moment when I was introduced to someone with an certain surname in a non-legal setting, and I said without thinking, "Oh that name's unusual, that's the name of a leading case in the [xxxxxxxxx] area of law". "Yes", they replied, "it was my little brother that died." I just wanted the ground to open up and swallow me - I felt utterly wretched.
                  Health Warning


                  I try my best to be accurate, but please bear in mind that some posts are written in a matter of seconds and often cannot be edited later on.

                  All information contained in my posts is given without any assumption of responsibility on my part. This means that if you rely on my advice but it turns out to be wrong and you suffer losses (of any kind) as a result, then you cannot sue me.

                  Comment


                    #10
                    Originally posted by agent46 View Post
                    I once had a horrible moment when I was introduced to someone with an certain surname in a non-legal setting, and I said without thinking, "Oh that name's unusual, that's the name of a leading case in the [xxxxxxxxx] area of law". "Yes", they replied, "it was my little brother that died." I just wanted the ground to open up and swallow me - I felt utterly wretched.
                    Well, you didn't actually say anything awful in itself [I hope]. An epitaph by non-notorious-case-eponym is better than not at all.
                    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                    4. *- Contact info: click on my name (blue-highlight link).

                    Comment


                      #11
                      Originally posted by jeffrey View Post
                      Well, you didn't actually say anything awful in itself [I hope].
                      True, but I felt very clumsy and also very sorry for embarassing the person like that. I just ended up gabbling something (think Hugh Grant at his most bumbling and cringeworthy) about lawyers having an unforgivable tendency to forget that all these cases involve real people etc etc.....It was a real "I'll get me coat" moment.



                      Apologies to the OP for hijacking your thread, BTW.
                      Health Warning


                      I try my best to be accurate, but please bear in mind that some posts are written in a matter of seconds and often cannot be edited later on.

                      All information contained in my posts is given without any assumption of responsibility on my part. This means that if you rely on my advice but it turns out to be wrong and you suffer losses (of any kind) as a result, then you cannot sue me.

                      Comment


                        #12
                        To my knowledge there are two main acronyms similar to the ones you mention:
                        SARB = Sell And Rent Back as already described,
                        STR = Sold To Rent which refers to those people who some years ago assumed that property prices were at their peak and decided to sell their assets with a view to buying a new home cheaper in a few years time.

                        Regards
                        ATD

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                          #13
                          Originally posted by jeffrey View Post
                          True. That's why I wouldn't recommend you to trust them! This has no bearing on legal validity, you realise.
                          Really, the "ten-year rent back" must be treatable as saying that P will let V have ten rent-free years. Is that at all plausible?
                          I bought a leather suite which had a 5 year guarantee and, of course, the company went bust, so my guarantee wasn't worth the paper it was written on. I don't put my faith in ANY guarantees now.

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                            #14
                            Originally posted by bagpuss View Post
                            I bought a leather suite which had a 5 year guarantee and, of course, the company went bust, so my guarantee wasn't worth the paper it was written on. I don't put my faith in ANY guarantees now.
                            That's why insurance-backed guarantes are the only credible ones. For instance, a Road/Sewer Adoption Agreement between Developer and Local Authority/Drainage Company is invariably backed by an Insurer's Bond (effectively, just a Guarantee).
                            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                            4. *- Contact info: click on my name (blue-highlight link).

                            Comment


                              #15
                              Think DTWBP

                              ie don't touch with barge pole

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