A mortgagee may be faced with a situation where the mortgagor becomes bankrupt and the trustee, in which the property then vests, disclaims the mortgaged property. By force of a trustee’s disclaimer, the bankrupt’s fee simple estate escheats to the Crown in the right of the State. When the Registrar of Titles receives a notice of disclaimer from a trustee, a Registrar’s caveat will be recorded over the property.

I HAVE REQUESTED MY LANDLORD’S CONSENT TO SELL MY PHARMACY LEASE. THE LANDLORD HAS AGREED TO THE SALE BUT ON THE CONDITION THAT I AM A GUARANTOR FOR THE BUYER. IS THIS A REQUIREMENT UNDER MY LEASE?

The answer will depend on the terms of your lease. However, as a general rule, it is likely to be the case that the landlord can request such a guarantee.