Contract for the sale of leasehold land subject to lease (incorporating the Standard Commercial Property Conditions (Third Edition – 2018 Revision))
A standard document contract for use on the sale and purchase of a leasehold property in England and Wales, which is sold subject to existing commercial leases. This contract incorporates the Standard Commercial Property Conditions (Third Edition – 2018 Revision) (SCPC) and is drafted to be adaptable for both registered and unregistered land. This contract addresses the complexities of a tenanted property sale, including provisions for the apportionment of the occupational lease rent, arrears, outstanding rent reviews, reconciliation of service charge and the assignment of rent deposits. It assumes that the sale will be a transfer of a going concern (TOGC) for VAT purposes.
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