Country Park Village Properties (Mainland) Ltd. v. Aird

Country Park Village Properties (Mainland) Ltd. v. Aird

The Federal Court of Appeal affirmed the trial judge: 'Fair Market Rent' in the sublease is equivalent to 'Basic Rent' and does not include 'Additional Rent'; the headlease did not alter that interpretation; the trial judge properly selected and adjusted comparables; accordingly the appellant's appeal is dismissed...

Source-derived case information.

Citation
2005 FCA 352
Parties
Appellant: Country Park Village Properties (Mainland) Ltd.; Respondents: Ted Aird et al
Court
Federal Court of Appeal
Jurisdiction
Canada
Judgment Date
26 October 2005
Procedural Posture
Appeal (federal Court of Appeal) Contract/property Dispute Concerning Sublease Rent / Judgment on Appeal Delivered From the Bench Affirming Trial Decision
Outcome
Appeal dismissed with costs; trial judge's interpretation and determination affirmed
Legal Topics
Lease Interpretation, Fair Market Rent, Additional Rent, Sublease, Comparables and Market Valuation
Source Language
en
Contract Law Property Law Aboriginal/reserve Lands Law Lease Interpretation Fair Market Rent Additional Rent Sublease Comparables and Market Valuation

Source-derived case record

Summary, issues, holding and outcome

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Parties

Country Park Village Properties (Mainland) Ltd.

Appellant

Ted Aird et al

Respondents

Procedural Posture

Appeal (federal Court of Appeal) Contract/property Dispute Concerning Sublease Rent / Judgment on Appeal Delivered From the Bench Affirming Trial Decision

  1. 1 Whether the term 'Fair Market Rent' in the sublease includes Additional Rent (i.e. constitutes a gross rent) or is limited to Basic Rent
  2. 2 Whether the headlease could be used to alter the meaning of the sublease where there was no inconsistency
  3. 3 Whether the trial judge permissibly selected and adjusted comparables to determine Fair Market Rent

Ratio Decidendi

The Federal Court of Appeal affirmed the trial judge: 'Fair Market Rent' in the sublease is equivalent to 'Basic Rent' and does not include 'Additional Rent'; the headlease did not alter that interpretation; the trial judge properly selected and adjusted comparables; accordingly the appellant's appeal is dismissed and the appellant must account for Additional Rent collected since 1997.

Court Disposition

Appeal dismissed with costs; trial judge's interpretation and determination affirmed

Orders

  • Appeal dismissed with costs
  • Appellant to account for Additional Rent it included in collected rents from 1997 onward