Presentation is loading. Please wait.

Presentation is loading. Please wait.

AREA ANNUAL SEMINAR 2011 Wednesday 18 th May 2011 BEST PRACTICES FOR REAL ESTATE 2011.

Similar presentations


Presentation on theme: "AREA ANNUAL SEMINAR 2011 Wednesday 18 th May 2011 BEST PRACTICES FOR REAL ESTATE 2011."— Presentation transcript:

1 AREA ANNUAL SEMINAR 2011 Wednesday 18 th May 2011 BEST PRACTICES FOR REAL ESTATE 2011

2 STATUTORY LEASES background/ history/ effect/ social impact/renewal process. Land Tenants (Security of Tenure) Act Chap. 59:54 BY Bridgid Mary Annisette-George Attorney-at-Law

3 Objective Security of Tenure to Land Tenants who are land tenants: sec 2 In the matter of the appl of Edwin Alexander: CA #11/1989 Ghany Investments Ltd v Ward: CA #5/1989 what is the nature of the security: sec 2 statutory lease what is a statutory lease: sec 4(1) appointed day: 1 st June 1981.

4 Constitutionality RIGHTS TO THE ENJOYMENT OF PROPERTY- guaranteed – Section 4(a) THE CONSTITUTION Fetter on the landlord’s right enjoyment of his property PREAMBLE-Chap 59:54 express declaration of inconsistency with the Constitution Three fifths majority of all members

5 Application All tenancies of land in Trinidad and Tobago June Chattel house: sec 2 Used as a dwelling – Gopaul v Vitra Imam Baksh Mag App#57/2009 – Ghany Investments Ltd. v Ward CA#5/1989 In the process of being erected and intended to be used as a dwelling

6 Circumstances inapplicable Agricultural land Lands owned by local authorities Lands of Pt Fortin Borough Lands of the THA Lands of the State Where 30 year leases exist by agreement Tenancies created after 1 st June 1981: sec 16

7 History quidquid plantatur solo,solo cedit chattel- common law definition – Removal without destruction – fixture Recognition by the Government of local practice- AG Richardson Hansard Mar – Irremovability without irreparable damage to house and land/asportation – Legal consequences: ownership in the landlord – MITCHELL v FORDE & COWIE 5 WIR 409

8 Effect of legislation SECTION 4 Conversion of tenancy to a statutory lease duration: 30 years w.e.f. 1/6/81 option to renew notice: sec 4(3) amended Dec 2010 automatic renewal on service of notice

9 Form of Statutory Lease Memorandum of statutory lease Regulations made under section 18 FORM 1 Registrable in Land Registry-section 17(2)

10 Other terms and conditions Section 5 Incorporation of existing terms Inconsistent existing terms- void Quantum of rent Date when rent is payable Fine/premium is unlawful

11 rent Arrears of rent: sections 5(4) &7 Rent review Payment of Excess rent – tenant: not recoverable landlord :summary conviction fine $5000-$10000 imprisonment 1yr (individual)

12 RENT REVIEW Land Tenants (Security of Tenure) (Rent Review) Order LN 103/1992 – Clause 3: factors: State of the market & value of land in locality Nature & cost of improvements to land Improvements in premises/locality from which tenant benefits Property taxes & current interest rates Length of occupation by tenant Specific use of land by tenant Other relevant factors Land Tenants (Security of Tenure) (Rent Review) Order LN 102/1992-Procedure

13 OTHER RIGHTS OF TENANT OPTION TO PURCHASE – Section 9 Notice- Tenant’s FORM 2; Landlord’s FORM 5 price RIGHT TO ASSIGN/SUBLET – Section 5(8) -Section 10 Notice- Tenant’s FORM 7; Landlord’s FORM 8

14 OTHER RIGHTS OF TENANT OPTION TO PURCHASE – Section 5(5) – Notice Tenant’s FORM 3; Landlord’s FORM 5 – Price – Payment by instalments agreement –Section 5(6) FORM 2

15 SERVICE OF NOTICE SECTION 14 – Ordinary service – Absent/deceased SECTION 15 – Unknown/unascertained

16 Post 1/6/1981 SECTION 16 AGREEMENTS TO RENT BUILDING LAND MUST BE IN WRITING AND MUST EXPRESSLY DEFINE RIGHTS OF THE PARTIES WHERE THE BUILDING TO BE ERECTED IS INCAPABLE OF REMOVAL WITHOUT DESTRUCTION

17 New term 30 year lease w.e.f 1/06/2011 Same terms except option to renew Tenant must have served notice by 31 st May 2011 Consequences of failure to serve notice

18 Post 31 st May 2041 Policy decision to be taken Would the general law come into effect? Would new legislation be passed?

19 Contact details BRIDGID MARY ANNISETTE-GEORGE ATTORNEY-AT-LAW 77 Picton Street Newtown, Port of Spain


Download ppt "AREA ANNUAL SEMINAR 2011 Wednesday 18 th May 2011 BEST PRACTICES FOR REAL ESTATE 2011."

Similar presentations


Ads by Google