Break Clauses and Break Notices
Missing an opportunity to break a lease is one of the commercial property world's more expensive errors.There may be problems with getting the parties wrong, not serving at the right time, or failing to satisfy conditions. This module explores those and other pitfalls.
- The module explores issues concerning the validity of both tenants’ and landlords’ break notices.
- Time limits are strict in break clauses; the module outlines how to be sure of operating the break in time.
- Checks to ensure the correct identity of both landlord and tenant are explained.
- Practical issues covered include: whether rent can be apportioned, identifying the interests to be terminated, the implications of terminating sub-leases at the same time, and a potential trap for landlords who intend to redevelop.
- The module gives practical guidance in relation to compliance with the most commonly-encountered conditions for exercise of a tenant’s break.