Commercial Conveyancing

 

Commercial conveyancing is the procedure by which interests in commercial property are transferred. Many of the issues in residential conveyancing are the same as those in commercial conveyancing.

However, in commercial conveyancing there are additional considerations which must be considered.

For example, a business may want to purchase land and redevelop it and use it for something different then what it is currently used for. This would involve getting planning permission from a local authority.

Commercial conveyancing often involves leasehold agreements. It is often more appropriate for commercial enterprises to lease premises for their use rather than purchase them. Drafting commercial leases involves considering the needs and requirements of both parties.

There is a commercial conveyancing procedure which must be followed when a lease is being granted. This procedure is very similar to the freehold procedure.

However, in the leasehold procedure a lot of consideration and time must be taken when drafting the lease. The lease is drafted by the landlord's representatives.

Commercial leases place specific obligations on both the landlord and the tenant. Standard clauses found in commercial leases include the term of the lease, the premium to be paid by the tenant, the amount of rent to be paid and provisions on who pays for insurance.

The lease will also stipulate whether the tenant is allowed to assignee (sub let) the lease, either wholly or in part.

It should also state whether the tenant is allowed to share the property with companies within the same group as them. It's complicated law, and a specialist solicitor is advised.

If you would like to obtain legal advice and information on commercial conveyancing, Caven can put you in touch with a local specialist Property Solicitor free of charge. So, if you have any questions or would like our help in finding local Property Solicitors please call us on 08001 221 2299 or complete the web-form above.

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