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Meaning of "Consideration".

Re: Meaning of "Consideration".

Postby atticus » Fri Jul 21, 2017 6:04 pm

Hairyloon wrote:P'raps worth writing him a letter then.

Perhaps worth explaining who you meant by "him", then.
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Re: Meaning of "Consideration".

Postby Hairyloon » Fri Jul 21, 2017 6:13 pm

Is it not clear that I meant the Secretary of State?
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Re: Meaning of "Consideration".

Postby Hairyloon » Fri Jul 21, 2017 8:32 pm

Smouldering Stoat wrote:Does this assist? It may be that the disposal is covered by the general consent.


Thank you. That looks very helpful... as long as the property is worth <£2million.
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Re: Meaning of "Consideration".

Postby Smouldering Stoat » Fri Jul 21, 2017 9:59 pm

The Consent removes the requirement for authorities to seek specific consent from the Deputy Prime Minister and First Secretary of State ("the Secretary of State") for any disposal of land where the difference between the unrestricted value of the interest to be disposed of and the consideration accepted ("the undervalue") is £2,000,000 (two million pounds) or less.
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Re: Meaning of "Consideration".

Postby Hairyloon » Fri Jul 21, 2017 11:27 pm

Yes, sorry I was thinking of the case in question: the organisation hopes to get it for next to nothing.
The council's decision report makes no mention of the General consent: is it likely that they don't know about it, or is it not worth mentioning if it is not applicable?
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Re: Meaning of "Consideration".

Postby Smouldering Stoat » Sat Jul 22, 2017 6:55 am

Ask them. Or, get a Councillor to ask them.
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Re: Meaning of "Consideration".

Postby Hairyloon » Sat Jul 22, 2017 7:37 am

Smouldering Stoat wrote:Ask them. Or, get a Councillor to ask them.


That was my thought as well. :)
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Re: Meaning of "Consideration".

Postby diy » Mon Jul 24, 2017 11:28 am

I'm curious about the examples atticus gave. I'm assuming
title is retained until all payments complete, so unless his client has cash flow issues or very high margins allowing him to turn the 5 in to a lot more, the only real consideration is NPV
My suggestions are not legal advice
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Re: Meaning of "Consideration".

Postby Hairyloon » Mon Jul 24, 2017 11:33 am

diy wrote:I'm curious about the examples atticus gave. I'm assuming
title is retained until all payments complete, so unless his client has cash flow issues or very high margins allowing him to turn the 5 in to a lot more, the only real consideration is NPV

I'd assume that title is transferred, but a charge be put on the property.
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Re: Meaning of "Consideration".

Postby atticus » Mon Jul 24, 2017 11:34 am

Where did I say title is retained? That is not how these things usually work.
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