Tag Archives: real estate

ILN Today Post

Blandede ejendomme – skattemæssige udfordringer

Mens vi venter på en ny vurderingslov, er der forskellige udfordringer for især ejendomme, der både anvendes privat og erhvervsmæssigt.

Blandede ejendomme er et begreb, der stammer fra vurderingssystemet og dermed vurderingsloven.

Det vurderingssystem, der har været i Danmark, har i en længere årrække været sat på hold, fordi de vurderinger, der kom, ikke var retvisende. Det forventes, at der etableres et nyt juridisk grundlag for en ny vurderingslov inden sommerferien 2017, og at vurderingerne igen kommer til at virke fra 2018 for ejerboliger og fra 2019 for ikke-ejerboliger.

Read More

Read full article
ILN Today Post

Will you be caught within the expanding cover of the Retail Leases Act?

The recent decision by the Supreme Court of Victoria in CB Cold Storage Pty Ltd v IMCC Group (Australia) Pty Ltd [2017] VSC 23 endorses a wider interpretation of what is considered a ‘retail premise’ for the purposes of the Retail Leases Act 2003 (Vic) (RLA). As a result of this decision, it is clear that the ‘ultimate consumer’ test could be satisfied by either commercial or private consumers and that most service businesses will be found to be involved in the ‘retail provision of services’ and subject to the RLA. As a consequence, leases which have previously been considered to fall outside the scope of the tenant friendly RLA provisions may, in fact, be regulated by its provisions, without landlords or tenants realising.

Read full article
ILN Today Post

J. Donald Wasil and Alexander Tachmes Lead $36M Hotel Deal

As recently reported in the Daily Business Review, Real Estate partners J. Donald Wasil and Alexander Tachmes assisted their client Hersha acquire the Ritz-Carlton Coconut Grove for $36 million. They guided a smooth transaction between Philadelphia-based Hersha and Miami-based hospitality group Gencom.

Read More

Read full article
ILN Today Post

End to an unjust fine?

Under current practice the Tax and Customs Administration (NAV) fines taxpayers that are caught with a VAT shortfall even if the budget has sustained no losses. An opinion recently published by the Advocate General of the European Court of Justice could spell the end for this extremely unfair and much criticised procedure.

The VAT treatment of certain transactions can often be problematic, and it is by no means uncommon for the parties in the transaction to end up misinterpreting – together and in good faith – the relevant provisions of the VAT Act. The parties may, by mistake, treat a transaction that is subject to a reverse charge as a regular transaction, or vice versa.

Read More

Read full article

ILN Announces Release of “Buying & Selling Real Estate: An International Guide”

2016We’re excited to announce today the release of the first edition of our real estate guide, “Buying & Selling Real Estate: An International Guide.” The collaborative electronic guide provides an overview of the legal aspects of buying and selling real estate in eleven jurisdictions internationally. It is designed to serve as a quick and practical reference for those buying or selling real estate in these jurisdictions.

As the facilitator of the guide, I can say that we’re delighted to publish this collaborative work and showcase the strength and depth of the combined expertise of our real estate lawyers. We already have plans to add additional jurisdictions to the publication, which will be regularly revised, to make this a comprehensive and up-to-date source of information. Like our corporate guide on establishing business entities, this is a real labor of love.

Read full article
ILN Today Post

Dej-Udom & Associates Newsletter – July 2016

Tourism Initiative Launched
Recognizing the importance of maximizing the region’s tourism market, ASEAN will launch the Mutual Recognition Arrangement for Tourism Professionals (MRA-TP) initiative in August. The initiative will set standardization and benchmarking skills for 32 hospitality and tourism job profiles, require 52 qualifications for different positions, and create 242 training “toolboxes” to help workers achieve the qualifications.

Work Forces Aging
A recent report by a global consulting firm says that Singapore, Malaysia, Indonesia, and Thailand account for over 75% of ASEAN’s US$2.45 trillion economy.

Read More

Read full article
ILN Today Post

Grant of a lease: What to think about when negotiating Heads of Terms (HoTs)

A good HoTs will answer all key questions which may arise on the grant of a lease, so that negotiation on commercial issues isn’t required further down the line, saving both time and money in the long run.  It is crucial for prospective tenants to think long and hard before entering into negotiations on lease terms.  Some important questions include:

  • Term:  How long will the property continue to meet the business needs of the tenant?  A small, fast growing company may outgrow a property in its first few years.  It is important that the term of the lease is right and provides a sufficient break clause for the tenant, while maintaining the right balance against the costs of relocation and commercial upheaval.

Read More

Read full article
ILN Today Post

Fladgate strengthens real estate practice with partner appointment

Fladgate LLP is delighted to announce the appointment of real estate specialist Jenny Sargeant who joins from Macfarlanes LLP.

Jenny advises a full range of real estate, corporate and high net worth clients on all aspects of commercial real estate transactions, specialising in acquisitions, bespoke financings and complex corporate transactions involving real estate. Her two areas of particular expertise are in the hotels sector and providing specialist advice to both lenders and borrowers in complex real estate finance transactions.

Read More

Read full article
ILN Today Post

Udlejers genudlejningspligt

Som udlejer har man en genudlejningspligt – men hvor langt skal udlejer gå i sine bestræbelser på genudlejning?

Opsiges et lejemål, før det lovbestemte eller aftalte varsel udløber, er hovedreglen, at lejeren må forvente at hæfte for lejen i den opsigelsesperiode, der er gældende for lejemålet.

En undtagelse til denne hovedregel er udlejers genudlejningspligt, hvor udlejer skal bestræbe sig på at genudleje lejemålet så hurtigt som muligt. Dette fremgår direkte af lejelovens § 86, stk. 3, og erhvervslejelovens § 64, stk. 3.

Read full article
ILN Today Post

Lease extensions of flats on a sale – what to tell your clients

When tenants first acquired the right to extend their flat leases under the Leasehold Reform, Housing and Urban Development Act 1993 (Act), there was a perception that this was not as attractive as the other right created by the Act, to collectively acquire the freehold title to the building in which the flats are situated.  However, lease extension claims are generally quicker, simpler and the right is more readily available than the right to collectively enfranchise.

A lease is generally marketable (i.e. a bank will lend against the interest) if it is for 80 years or more. It is not uncommon, particularly in Prime Central London, for flats to be sold on leases of under 80 years.  Accordingly, it is important that the agents are aware that the statutory right to extend the lease exists and how and when that right can be exercised so dealing with the extension can be dealt with at the Heads of Terms stage.

Read More

Read full article