Assent Definition

GLOSSARY

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What does Assent mean?

A method of transfer of estate property only available to personal representatives (PRs). An assent activates the gift of estate property to the beneficiary and, after assent, the PRs hold the asset on trust for the beneficiary until any further formalities to transfer the legal title have been complied with.

View the related checklists about Assent

Unfair commercial practices—checklist

Unfair commercial practices—checklist This Checklist considers the key practices, actions and omissions amounting to unfair, misleading or aggressive commercial practices under the Consumer Protection from Unfair Trading Regulations 2008, SI 2008/1277 (CPUTR 2008), which may lead to criminal prosecution, regulatory action and adverse publicity. Consumers also have private rights of redress, including the right to unwind the contract, the right to a discount and the right to seek damages. It considers the changes that the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024) will bring about. All commercial practices need to be considered and checked to ensure that they do not breach these requirements. These include marketing techniques; traders should consider in particular new media techniques, which can sometimes be unclear to consumers as being commercial activity. For more information on the CPUTR 2008, see Practice Notes: • Consumer protection from unfair trading, and • Private right of redress for consumers See also: Advertising law and regulation—overview and Sales and marketing—overview. The DMCCA 2024 In July 2021, BEIS, now the Department...

Due diligence—reviewing a registered title—checklist

Due diligence—reviewing a registered title—checklist This Checklist is for use when reviewing a registered title as part of the due diligence process. It assumes that the title is being reviewed in the context of a proposed purchase of the property but the same considerations will apply when carrying out due diligence in the context of taking a registered charge over the property or entering into a new lease of the property. For unregistered land, see Practice Notes: Deducing title to unregistered land—compulsory first registration, party to register, evidence of title, good root of title and unbroken chain of ownership and Deducing title to unregistered land—stamp duty, mortgages, execution of documents, missing title deeds, sales of part and other considerations. Have official copies of the register and plan been provided? Official copies—register and plan Title to registered land is deduced by providing up to date official copies of the register and plan. These must be ordered from HM Land Registry either by: • submitting a paper form • using their online...

Parliamentary procedure

Parliamentary procedure Types of Bill Most Bills are Public Bills, aimed at a change the law as it applies to everyone. Most Public Bills are government Bills, introduced by ministers either as part of their planned legislative programme, or in response to events. A Public Bill introduced by an MP or a Member of the House of Lords who is not a government minister is called a Private Member’s Bill. Relatively few Private Members’ Bills become law. It is important to keep Private Members’ Bills distinct from Private Bills. Private Bills aim at changing the law in a way that only affects particular individuals or organisations, rather than changing the general law affecting everyone. Each year a number of them are promoted in Parliament by outside organisations. For example, Transport for London (TfL) promoted the Transport for London Bill, aimed at giving TfL further financial and management powers. This Bill became the Transport for London Act 2016. Other examples are the University of London Bill, promoted...

The Lifetime ISA

The Lifetime ISA Factors which led to the creation of the Lifetime ISA Successive UK governments had long proclaimed the importance of encouraging long-term savings both within and without the private sector pensions arena. Successive years had also seen, however, an increasing number of challenges as to the fitness and fairness of the UK’s system of pension tax relief, particularly with regard to non-public sector pension schemes. The government budgets over those years had shown that politicians of varying political persuasions had been increasingly willing to sanction increasing restrictions of the available tax relief, particularly with regard to the levels of the lifetime and annual allowances, something that would have been difficult to imagine several decades before. In July 2015, the UK government initiated a public consultation exercise designed to examine further possible reforms of the UK’s system of pension tax relief with the aim of increasing the incentive to save. In the budget of 2016, the then Chancellor of the Exchequer George Osborne announced that following...

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Anti-bribery and corruption—briefing for external agents/intermediaries

Anti-bribery and corruption—briefing for external agents/intermediaries Introduction Compliance with bribery and corruption laws is critical to [insert organisation name][ and all its businesses]. To raise awareness, protect our reputation and avoid potential liability as a result of bribery or corruption involvement by any of our business partners we provide this briefing to all agents and intermediaries. As a partner, agent, consultant or other third party engaged to provide services for or act on behalf of [insert organisation name], you are an ‘associated person’ under the Bribery Act 2010 (BA 2010). As such, we can be held accountable for the actions you take on our behalf. It is therefore imperative that you: • understand and follow the same laws and policies that apply to us and our staff • recognise when bribery risks arise and know how to behave appropriately and in accordance with our policies in such situations • make it clear to others that you and [insert organisation name] do not conduct business in an unethical manner,...

Online consumer terms for the supply of goods, services and digital content—short-form

Online consumer terms for the supply of goods, services and digital content—short-form FORTHCOMING CHANGE: On 24 May 2024, the Digital Markets, Competition and Consumers Bill received Royal Assent, becoming the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024) and coming partly into force on that date. DMCCA 2024, s 251 (which is not yet in force) will revoke the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR 2008), SI 2008/1277. Once revoked, the provisions presently contained in the CPUTR 2008 will be replaced by Part 4 of DMCCA 2024 (which largely replicates the requirements of the CPUTR 2008). The DMCCA 2024, Part 4, Chapter 2 (which is not yet in force) removes subscription contracts from the scope of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 2013/3134 (CCR 2013). This Precedent will be updated for these changes in due course. For further information on the DMCCA 2024, including a detailed comparison of the CPUTR 2008 and Part 4 of DMCCA 2024, see Practice...

Dive into our 50 Precedents related to Assent

The personal representatives of an estate have assented land to the residuary beneficiaries of an estate, who are all charities, and currently hold the land on bare trust for those beneficiaries. The charities intend to sell the land in the very near future. Is it necessary to instruct a qualified surveyor under section 119 of the Charities Act 2011 to conduct a valuation of the property being sold?

The personal representatives of an estate have assented land to the residuary beneficiaries of an estate, who are all charities, and currently hold the land on bare trust for those beneficiaries. The charities intend to sell the land in the very near future. Is it necessary to instruct a qualified surveyor under section 119 of the Charities Act 2011 to conduct a valuation of the property being sold? Unless the charities are exempt charities, it appears that a sale of the land on their behalf by the personal representatives (assuming that they retain the legal title until the sale), would be subject to the conditions set out in sections 117–123 of the Charities Act 2011. We refer you to the following content that may be helpful in your research: • Practice Notes:

If personal representatives exercise their power of appropriation over the deceased’s land, what formalities must be fulfilled?

If personal representatives exercise their power of appropriation over the deceased’s land, what formalities must be fulfilled? This Q&A assumes that the power of appropriation will be exercised by personal representatives and not trustees. By way of background, the process of appropriation is where a personal representative (PR) or a trustee uses a specific asset in the estate or trust fund, to meet in full or in part, a beneficiary’s entitlement or interest. What is appropriation? PRs have a power of appropriation under the common law over any part of the residuary estate (but not a fund) which may be exercised with the consent of the beneficiary, in or towards satisfaction of a vested legacy or a share of residue. This power allows PRs to deal with both real and personal property even if that property is subject to a trust for conversion. See Practice Note: Personal representatives and trustees—power of appropriation. The powers of appropriation given to PRs is set out in section 41 of...

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Corporate Crime weekly highlights—24 October 2024

This week's edition of Corporate Crime weekly highlights includes analysis of proposed plans for an overhaul of the UK’s product-safety framework, of an insurer launching the UK's first cybercrime recovery service, and of plans by campaigners to submit a Bill before Parliament which will assist in preventing retaliation against whistleblowers who reveal fraud, corruption and misconduct. Also included is news of new magistrates’ court rules being introduced to support proceedings under POCA 2002 and ATCSA 2001 concerning cryptoassets, of the MoJ launching an independent sentencing review as well as increasing sentencing powers for magistrates in an effort to curb the UK’s prison crisis, and of DEFRA announcing the largest review into the water sector since its privatisation. All this, and more, in this week’s Corporate Crime highlights.

Restructuring and Insolvency weekly highlights—24 October 2024

This week's edition of Restructuring and Insolvency weekly highlights includes: the publication by HMRC and Companies House of transitional plans outlining the timeline for commencing the key provisions of the Economic Crime and Transparency Act 2023, commentary on the implications of the Water (Special Measures) Bill, plus a round-up of other news and cases for restructuring and insolvency professionals.

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