Europe

Five things you still need to know about Brexit

1 Has “Brexit” happened yet?

In short, no. The referendum was advisory only and the UK continues to be an EU member. In order to leave the EU, the UK must issue a formal notice of its intention to leave to the European Council (the so-called Article 50 procedure). The timing for triggering Article 50 is still under debate, but the UK government is currently in favour of conducting “informal” negotiations regarding the UK’s post-Brexit relationship with the EU before formally triggering Article 50.

2 How will Brexit affect UK real estate law?

Real estate law varies widely between EU member states and is not subject to harmonisation. Indeed, there are significant differences within the UK (Scotland and Northern Ireland have different regimes from England and Wales). The fundamental laws surrounding the ownership of property, registration, and landlord and tenant law are domestic in nature. The direct implications of Brexit for property law and procedure in the UK are therefore limited.

3 What about environmental law?

Many real estate transactions are also affected by laws that do originate from the EU. UK legislation relating to minimum energy efficiency standards (MEES), energy…

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