Commercial conveyancing is a specialised area of law that deals with the transfer of property or land for business purposes.
Whether you're buying, selling, or leasing commercial property, a conveyancer is key to ensuring the transaction runs smoothly. In this blog, we’ll look at what a commercial conveyancer does and why they’re essential in any property deal.
Commercial conveyancing refers to the legal process involved in transferring ownership or rights to a commercial property.
It is more complex than residential conveyancing due to the nature of business properties and the number of legalities involved.
A commercial conveyancer plays a crucial role in ensuring that the legal aspects of buying, selling, or leasing a commercial property are handled properly.
They ensure that the deal is legally sound and that there are no hidden issues that could cause problems later.
Commercial property transactions are typically more involved than residential ones, primarily because they often involve more stakeholders and legal requirements.
Related: What is the Conveyancing Process?
When it comes to lease negotiations, a commercial conveyancer ensures that the lease terms are fair and protect their client’s interests, whether they’re a tenant or a landlord.
Commercial conveyancers don’t work in isolation.
They often collaborate with other professionals to ensure a smooth transaction and provide clients with the best possible advice.
For instance, they may work closely with surveyors who assess the condition of the property and provide valuations. If there are structural issues or defects, the conveyancer needs to consider how these might impact the transaction or the property’s value.
Conveyancers also liaise with accountants, particularly when it comes to tax matters like Stamp Duty Land Tax (SDLT) and VAT, which are more common in commercial property transactions.
These tax obligations can be complicated, and a conveyancer will ensure that everything is calculated correctly and paid on time. Additionally, they may engage planning consultants if the property has specific planning permissions, or if there are development plans that need approval.
This teamwork is essential because it means all aspects of the transaction are covered, reducing the risk of any unexpected issues arising after the deal is completed.
It’s wise to involve a commercial conveyancer as early as possible in the property transaction.
Ideally, you should consult a conveyancer before making or accepting any formal offers. They can provide valuable legal advice that may influence the terms of the offer and ensure that you’re aware of any potential legal pitfalls from the outset.
During the transaction, the conveyancer will be responsible for managing the entire process, from drafting and negotiating contracts to conducting searches and liaising with the other party’s solicitors.
They’ll also deal with the financial aspects, ensuring that any deposits, mortgages, or other funding arrangements are handled smoothly.
After completion, their work isn’t finished. They’ll make sure the property is correctly registered with HM Land Registry and that any relevant taxes, such as SDLT, are paid.
In short, a commercial conveyancer is essential at every stage of the process, providing ongoing legal support and ensuring the transaction is fully compliant with UK law.
Choosing the right commercial conveyancer is crucial to the success of your property transaction.
It’s important to find someone with experience in commercial property, as the complexities of these transactions require a specific set of skills. Look for a conveyancer with a strong track record in dealing with properties similar to the one you're buying, selling, or leasing.
Accreditations are also a good indicator of professionalism and quality. Many commercial conveyancers are members of professional bodies like The Law Society’s Conveyancing Quality Scheme (CQS), which sets standards for excellence in conveyancing practice.
Good communication is key. A conveyancer should keep you informed throughout the process, explaining things in clear terms so that you fully understand what’s happening at each stage.
This helps prevent any confusion or surprises further down the line and ensures that you’re always aware of any potential issues or delays.
Related:
How to Purchase a Commercial Property
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