‘The North East Property Buyers litigation test cases finally reached the Supreme Court and judgment was handed down on 22nd October 2014. Any practitioner in property and housing litigation in the North East, and indeed further afield, will have had some knowledge of, or dealings with, schemes such as were in these cases examined. They concerned sale and lease back agreements, a simple enough notion, involving the purchase of a vendor’s home by a nominee, often at an undervalue, in return granting the vendor a lease of the property, thereby releasing equity to the vendor and allowing them to remain in the property at a reduced rent.’
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Zenith Chambers, 24th October 2014
Source: www.zenithchambers.co.uk
