Valuation summary meaning

Purpose of checklist This checklist aims to set out the types of considerations that must be kept in view-and for which client instructions will be required-when preparing a joint venture agreement (JVA) and articles of association for a corporate real estate transaction. For further key points to address when drafting a JVA, see Checklists: Corporate joint venture preliminary issues-checklist and Joint venture shareholders’ agreement-checklist. See also Practice Note: Property Joint Ventures-general issues for a summary of the commercial matters the joint venture parties will need to weigh when establishing a property joint venture (JV). Corporate real estate JVs typically involve collaboration between parties able to source real estate (with one party possibly owning, and contributing to the joint venture company (JVC), the property to be developed), provide substantial capital to the JVC, supply or arrange debt funding (to finance the development) and offer the expertise to develop and/or manage the property. The JVA will document the parties’ agreement on their respective rights in relation to issues such as management...

Pre-completion Checklist for funder's solicitor Checklist for borrower's solicitor Title information Where the borrower’s solicitor is issuing a certificate or report on title, verify they have supplied a signed engrossment of it, with all plans and annexures, to be held to their order until completion day. Confirm the borrower’s solicitor has incepted any required defective title or chancel repair insurance and that the premium is paid before completion. The certificate/report on title must also set out the title insurance policy particulars. Obtain confirmation from the valuer that the valuation stands unchanged in light of the certificate/report. Deliver to the funder a signed, dated summary report covering the title position. Provide the funder with any construction, planning and/or environmental reports prepared as part of the transaction. Make sure all HM Land Registry forms are approved and, where the application will be sent off by the funder’s solicitor, that signed forms have been received. Ensure all third party notices are approved...

In this issue Key DR developments Claims and remedies Costs and funding Litigation Applications—general Evidence and disclosure Appeals New content Dates for your diary Useful information Daily and weekly news alerts Key DR developments CPR Committee minutes Minutes of the CPR Committee meeting—6 June 2025: The Civil Procedure Rule Committee met on 6 June 2025 in a hybrid session at The Rolls Building (Royal Courts of Justice) and via video conference. The minutes confirm a forthcoming CPR 51 pilot enabling non-parties to obtain court documents, arising from the Supreme Court ruling in Cape Intermediate Holdings Ltd v Dring [2019] UKSC 38. They also record approved amendments to the e‑working pilot, progressing towards a permanent electronic filing system as part of ongoing court modernisation. Further topics included summary assessment of costs, arbitration updates, disclosure, civil restraint orders, closed material procedures, judicial review reforms for infrastructure projects, whiplash reforms, digital services and other procedural...

Insurance & Reinsurance weekly highlights—28 March 2024 In this issue: Baltimore bridge crash Coronavirus (COVID-19) Cases and decisions Types of insurance Market practice Regulation New and updated content Case trackers Key dates Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Baltimore bridge crash On 26 March 2024, Britannia, the UK marine insurer, confirmed it is liaising with Baltimore authorities after a container vessel destroyed the city’s iconic Francis Scott Key Bridge in a collision that experts predict will trigger insurance claims running into billions of dollars. See News Analysis: UK marine insurer investigating Baltimore bridge crash. Coronavirus (COVID-19) Four years have passed since the UK first went into lockdown to tackle coronavirus (COVID-19), leaving offices deserted, shops closed and practitioners debating the framing of business interruption claims. See News Analysis: Four years on, coronavirus (COVID-19) lockdown cover claims near endgame. Business interruption (Oaxaca Ltd t/a Wahaca v QIC...

In this issue Building safety Adjudication Litigation Arbitration Consultants on construction projects Planning in construction Tax for construction lawyers Energy in construction Infrastructure projects Construction industry news Daily and weekly news alerts New and updated content Construction trackers Building safety The Scottish Government has confirmed that the Scottish Parliament has passed the Building Safety Levy (Scotland) Bill, bringing in a levy on selected new residential developments to support cladding remediation. The levy will cover defined categories of new residential projects and, after its original start date was deferred, is now anticipated to come into force from April 2028. See: LNB News 18/03/2026 32. The Welsh Government has announced that the Senedd has approved the Building Safety (Wales) Bill. The legislation sets up a new building safety regime for residents of multi-occupied buildings across Wales, irrespective of height or tenure...

Practice Note This Practice Note consolidates our content on the amendments as introduced in the 2024 editions of the Joint Contracts Tribunal (JCT) standard form construction contracts...

Business asset disposal relief Business asset disposal relief (BADR) is a capital gains tax (CGT) relief intended to encourage individuals to start and grow their own businesses. Where the qualifying conditions are met, for disposals made on or after 6 April 2026 the CGT rate on specified business assets is reduced to 18%. Before 6 April 2025 the rate available under BADR was 10%, rising to 14% from 6 April 2025 under the Finance Act 2025, which also provided for a further increase to 18% for disposals on or after 6 April 2026. Individuals operating as sole traders or in partnership Individuals disposing of shares in, or securities of, a company Trustees of a settlement holding the business assets Companies are not eligible for BADR in respect of chargeable gains that they realise. A lifetime cap limits the total amount of BADR that any one individual can claim...

FORTHCOMING CHANGE : On 30 January 2024, the Trusts and Succession (Scotland) Act 2024 obtained Royal Assent, representing the first review of Scottish trusts law in more than a century since the principal Trusts (Scotland) Act 1921 was enacted. The trusts provisions will require secondary legislation from Scottish Ministers before they commence, whereas the succession provisions took effect on 30 April 2024. Key changes intended to modernise the law are outlined in News Analysis: Trusts and Succession (Scotland) Bill passed. Practice Notes addressing Scottish trusts and succession will be updated as required to reflect this new legislation. This Practice Note explains the procedure for obtaining confirmation in Scotland for testate estates, in scenarios both where no inheritance tax (IHT) is payable and where IHT is due. For guidance on confirmation in intestate estates, see Practice Note: Application for confirmation in Scotland—intestate cases. What is confirmation? ‘Confirmation’ is a document issued by a Sheriff Court that confirms the appointment of executors, whether the appointment was made...

This document is significant and demands your prompt attention today. If you are uncertain about any aspect of this proposal or about the steps you ought to take, you should consult your professional adviser without delay and without hesitation. Further copies of this document and the accompanying voting forms can be obtained readily and directly from the address listed on page [ insert number ]. [ They may also be downloaded and printed from the website [ insert website address ] ] . Proposal in relation to restructuring plan Pursuant to Part 26A of the Companies Act 2006 Between [ Insert Company name ] and its creditors/members (as defined in the restructuring plan) The meeting [ s ] of Creditors/Members to review the restructuring plan (the Meeting [ s ] ') will be convened [ [ at insert address ] OR remotely by telephone/webinar OR on [ insert date ]. The meeting [ s ] will start at [ insert time ] London time. Notice of the...

This guide outlines general information about wrongful dismissal claims, including whether proceedings should be brought in the employment tribunal or in the civil courts, together with compensation for wrongful dismissal. Your employment solicitor will be able to provide advice that is specific to your circumstances and situation, tailored to your needs and facts. What is wrongful dismissal? If an employer terminates an employee’s contract without complying with the contractual terms that govern how termination should occur, the dismissal constitutes a breach of contract, known as wrongful dismissal. A contract of employment will usually state that either party may end the contract by giving a specified period of written notice in advance. Wrongful dismissal therefore most commonly, in practice, happens where an employer dismisses without any notice at all (also known as summary dismissal) or with insufficient notice. It can also arise where a fixed-term contract is brought to an end before its expiry (where the contract does not provide for this), or if there is a contractual disciplinary...