|
Seller owned the freehold, having granted a 99-year lease to its subsidiary (Tenant). Together, Seller and Tenant had agreed to sell the freehold to the Buyer. It had been arranged that there would be a surrender by Tenant to Seller so that the unencumbered freehold would transfer to Buyer. However, Seller refused to complete, arguing that the agreement to surrender (with Tenant) was void, for failure to comply with LTA 1954. This does, of course, require L to serve a written notice on T, and for T to then respond with a declaration (or statutory declaration).
|