Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Crystallisation definition

What does Crystallisation mean? In pensions practice, crystallisation means starting to take benefits from all or part of a pension arrangement — as income (for example, by entering drawdown or buying an annuity) and/or as a lump sum (such as a pension commencement lump sum). Funds not yet accessed are “uncrystallised”. The term is descriptive, but UK pensions tax law defines related “benefit crystallisation events” (Finance Act 2004), which historically triggered a test against the lifetime allowance. From 6 April 2024, HMRC instead tests certain lump sums and death benefits against the new lump sum allowance and lump sum and death benefit allowance. Practitioners...

Non‑crystallisation letters for floating charges in property transactions: buyer and lender requirements, registration and priority (England and Wales)

Published by a LexisNexis Property expert

Practice notes

What is a letter of non-Crystallisation?

When carrying out title due diligence on property owned by a company, the existence of a Floating charge may well be revealed. See Practice Notes: Pre-contract searches—Company search and Pre-completion searches—Company search. In such circumstances, a letter or certificate of non-crystallisation might be needed in order to confirm that:

the floating charge has not crystallised in relation to that specific property
no action has been taken that has caused, or would cause, the charge to crystallise and attach to the property, and
the chargee agrees to the property being sold, or to a second floating charge being created over it

This confirms the company can transact with the property (still subject to any fixed charges and other title restrictions and limitations). Either the chargee or the chargor may issue the letter. However, it is better to obtain it from the chargee, as proof of non-crystallisation is not definitive unless supplied by the chargee. The chargee is generally under no duty to give this confirmation, but in most instances they are willing to do so. See Precedent: Letter of non-crystallisation...

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Web page updated on 21/05/2026

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