Real Estate / TAG Property (J)

Meet the Co-chairs - TAGLAW

Klose, Dr. Christoph
RWP Rechtsanwälte

Real Estate / TAG Property (J)

Lease Surrender

On the surrender of a Lease, it is always necessary to consider whether any VAT will be payable on any payment made by either the Landlord or the Tenant.

There may be some value in the lease, in which case the Landlord may pay the Tenant a premium on the surrender.  On the other hand, the Landlord may have no particular wish to take back the Lease and in such a case the Tenant may pay the Landlord to accept the surrender, either because it no longer has any use for the premises or because the premises are overrented.  Where the Tenant pays the Landlord, this payment is regarded as a reverse premium.

Read more: Is VAT Payable on the Surrender of a Lease or the Exercise of a Break Clause in the UK?

Industrial Sector Poised to Deliver the Highest Returns as E-Commerce Continues to Grow

Despite the initial uncertainty following the Presidential election, South Florida real estate professionals have an optimistic outlook on the commercial real estate market in 2017, according to a new survey released today by Berger Singerman, Florida’s business law firm. Results from the third annual survey show that the majority of local real estate professionals expect 2017 will be better than 2016 for the South Florida commercial real estate market.

Read more: Booming South Florida Real Estate Market Won't Stop in 2017 According to Berger Singerman Survey

Contact: Budidjaja & Associates Lawyers

In the framework to provide legal certainty for foreign citizens residing in Indonesia with regard to property ownership, the Government of Indonesia recently issued Government Regulation No. 103 of 2015 dated 22 December 2015 on the Ownership of Houses or Residences by Foreigners domiciled in Indonesia (“2015 Regulation”) to replace the older regulation under Government Regulation No. 41 of 1996 dated 17 June 1996 (“1996 Regulation”).

Read more: The Ownership of Houses or Residences by Foreigners in Indonesia

Contact: Att. Kerem Tayhac Sagocak; Erdem & Erdem (Turkey)

The purchase right of the lessee under the financial leasing agreements is regulated under Article 23 of the Financial Leasing, Factoring and Financing Companies Law (“FFFL”). As per such provision, the parties may agree that the lessee will have right to purchase the leased property at the end of the term of the lease. The second part of the Article further stipulates an important provision, as follows:

Read more: The Obligation of the Lessee to Return or to Purchase the Leased Property under the Financial...

Contact: Bronwyn Clarkson, Partner and Jayne Atack, Senior Associate; Carter Newell (Queensland, Australia)

Amendments made to the building energy efficiency disclosure legislation in the middle of last year have changed and clarified the statutory disclosure requirements for sales and leases of affected buildings. Although the changed requirements and operation of the exemptions and exceptions have been in place for a number of months, their impact, in our experience, is still not fully understood and these are requirements which some parties may only encounter on an occasional basis, depending upon their property portfolio, and sale or lease transactions undertaken.

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