Real Estate Talking Points: Break clauses and vacant possession: don’t get caught out!
"Case law delivers a harsh warning to tenants that they must comply strictly with break right conditions. One of the most common conditions for exercising a break is giving your landlord “vacant possession”. Failure to understand this concept can cause problems for tenants who can lose their right to break because of a trivial breach of covenant with expensive consequences. But what does it mean in practice: how vacant is “vacant possession”?"
In this alert Hannah Webb discusses the key points around break clauses and vacant possession for tenants and identifies what this means in practice. Click here to read more