The commercial terms upon which parties agree to enter into a lease between the parties are usually set out in a document called: a "heads of agreement" (HOA); a "lease proposal";...
It is unlikely that a company will still exist after the end of a period of liquidation given that the purpose of the appointment of a liquidator is: to use the assets of a company to pay the company’s...
Commercial Building Disclosure (CBD) program The Commercial Building Disclosure (CBD) program is a national regulatory program established by the Building Energy Efficiency Disclosure Act 2010 (Cth)...
What is an agreement for lease? An agreement for lease is a document separate from the lease. It is an agreement to enter into a lease at a later date on the terms set out in the agreement for lease...
What is an incentive? A landlord may give a tenant an incentive to enter into a lease. An incentive is generally (but not always) recorded in a separate incentive deed. See the Precedent Lease incentive...
Key considerations for a tenant before entering into a lease Before entering into a lease, a tenant should ensure that: the premises (and the building containing the premises) are sound; the required...
A lease, being a contractual agreement, can be varied by way of a supplementary agreement between the parties. If considering a variation of lease, it is important to determine if it will operate:
Under the general law, it was formerly considered that any variation of a lease represented a surrender of the existing lease and the creation of a new lease. However, there has been a subsequent softening of the surrender principle. Whether a variation of lease constitutes a variation of the existing lease or a surrender of the existing lease and a regrant of a new lease, is now a question of fact as to the intention of the parties. The nature and extent of the variation is also a relevant consideration. A trivial variation may be held to be a variation while extensive and significant variations may result in a finding that the original lease has been surrendered. Pascoe-Webbe v Nusuna Pty Ltd (1985) 3 BPR 9620 at 9622; Richmond Football Club Ltd v Verraty Pty Ltd (2011) VCAT 2104.
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