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Legal Definitions by Ford Banks Irwin Solicitors - The Property Lawyers in Manchester

Please note: Not to be used or relied upon without legal advice. These notes are for illustrative purposes ONLY

Redemption

The repayment of money due under a Mortgage.  Property Law Solicitors and Conveyancers usually provide Undertakings to the Buyers Solicitors that they will Redeem the existing Mortgage secured on the Title Deeds and provide evidence of Redemption in form DS1 / END1.  The Buyers Solicitors will then use the DS1 / END1 to remove the old mortgage from the Title Deeds at HM Land Registry.    



Redundancy

In Employment Law:  Where an employee is no longer needed because the job no longer exists.  Employment Law Solicitors and Lawyers often advise employers and employees on the redundancy entitlements and legal position. The employer provides statutory redundancy pay to certain employees although in many cases the redundancy package in the contract of employment is more generous.   

Registered Land

All Property or Land that is registered and HM Land Registry.  Compare: Unregistered Land and the old system of proving ownership of Property.  Property Law Solicitors and Conveyancers need to be aware of both Registered Land and Unregistered Land.    


Renewal of Lease

A Lease which is renewed on the same or similar terms between the same Landlord and Tenant at the end of the Lease period.  Commercial Property Law Solicitors and Lawyers will attempt to govern the Renewal of Lease procedure in the Lease by setting out the required notice periods and prescribed form. 

Rent review clause 

A clause in a Lease which provides that the rent shall be reviewed after a certain period.  Some Leases contain upward only rent review clauses.  Commercial Property Law Solicitors and Lawyers will discuss all the rent options available with clients

Repossession

A Mortgage Lender issues Court Proceedings to recover vacant possession of the Mortgaged Property.  In some instances Court Proceedings are not necessary and the borrowers who accept they can no longer afford the Property hand back the keys to the Mortgage Lender or try to sell the Property themselves.  Many of these Properties are placed with Auction Property Solicitors and Lawyers for subsequent sale of the Property at Auction.     

Res Ipsa Loquitur

(Latin) In Litigation cases / Court Proceedings the Claimant or Defendants Solicitors and Lawyers my submit to the Judge that the evidence is not needed as the facts speak for themselves.   


Restrictive Covenant

These are covenants in the Title Deeds which restrict how the Property may be used.  Property Law Solicitors and Conveyancers will assess the restrictive covenants in the Title Deeds.  Compare: Positive Covenants.   

Root of Title 

A term used by Property Law Solicitors and Conveyancers investigating Unregistered Land.  The Root of Title is the starting document the Seller will produce to show he is the Owner of the Property.