Option to extend a term – perpetuities – option not becoming exercisable until after the 21 year period – assignment of lease – assignment of option

Souglides v Tweedie & another [2012] EWCA Civ 1546 (4 December 2012)

The first instance decision of Newey J was summarised in our May 2012 edition. The defendants (T) sought and obtained permission to appeal. The appeal came on before The Chancellor and Rix and Patten LJJ. The appeal was allowed.