JMS Solicitors will ensure that:
1.the title is good and can be passed on to you by the seller
2.contractual terms are negotiated and obtained and favour you
3.searches are carried out and check for any problems with the property
4.correspond with your lenders
If you are selling a commercial property, JMS will:
1.prepare a sales contract
2.answer any queries from the buyer’s legal team
3.negotiate and reach a binding agreement
4.complete and secure money on your behalf
New leases for shops or offices
If you are entering in to a commercial property lease, JMS will:
1.check the terms of the commercial property lease
2.negotiate the terms to minimise your costs or risk as a tenant
Assignment of leases
Most leases of commercial buildings give the tenant the right to sell the lease but this right is usually conditional upon having the consent of the landlord. In most cases the landlord has to give consent unless it would be unreasonable not to do so. This means that there are two distinct documents required to effect an assignment of a lease. JMS will complete these on your behalf:
1.the 'Assignment' - this is the document which passes ownership of the lease from the seller to the buyer
2.the 'Licence to Assign' - this is the document whereby the landlord gives consent to the Assignment
Selling the lease, referred to as ‘assigning the lease’ is different to subletting. Assigning a lease means you transfer the existing lease, whereas subletting means that a new lease is granted out of the head lease. If you are entering into a lease agreement, JMS will advise what type of lease you are being offered. JMS will also deal with issues after completion, on your behalf, such as registering the property with land registry (with leases where the lease is 7 years or more)
Landlord or tenant disputes
Whether a landlord or a tenant, disputes about commercial leases may affect your investment or livelihood. You should take legal advice as early as possible. JMS will be able to give landlords quick and cost-effective advice on such matters as what to do if your tenant:
1.gets behind with his rent
2.fails to do repairs
3.breaks the terms of their lease
How much will it cost me?
We use a fixed fee system. When you contact us for a quotation you can also rest assured that the fee we quote to you is competitive, and more importantly, is the fee you will actually pay!
If you are a landlord or a tenant, JMS will be able to advise and the recommend the best course of action for an early resolution. For a consultation call us today on Freephone 0800 781 7057.