Property Related Matters
We offer guidance and practical assistance on every aspect of commercial property in the UK. Our commercial property team are highly experienced and efficient by having a solid understanding and good level of experience in dealing with a vast area of commercial property transactions. These range from the granting of simple retail leases for shops and industrial units, to more complex business leases. Comprising of larger units and larger shops including premises trading as established businesses where the intention is to purchase them as ongoing concerns. Our team also have good drafting skills by drafting either simple or complex Commercial Leases, Deeds of Surrender, Assignment of Business Leases and SPA Agreements. All drafting skills which we provide will not only be confined to these documents alone; these will also include generally an all-round good level of drafting of key documents in commercial transactions.
Whether you as an individual, company or a firm are involved in property development, purchasing commercial property, selling commercial property or leasing commercial premises, an experienced and friendly solicitor from our commercial property department will have the expertise to help secure the deal you wish to reach with a seller or Landlord within your timescale and budget.
We can also assist in selling premises, and acting for various lenders on the raising of finance, joint venture negotiations and provide property licensing advice as well as property litigation advice. Our commercial property team will be able to draw on their own experience and that of others in the team to resolve even the most complex of cases.
We offer a direct and personal service with a simplified approach to the practice of conveyancing for properties in England and Wales. It is designed to be fast, reliable and with the aim of reducing the emotional upheaval associated with a house sale or purchase. We understand the last thing you need at this time is unnecessary paperwork, confusing language or unplanned delays. We will go through a structured program of drafting or reviewing the Residential Agreement thoroughly, and then carrying out searches, explaining the process to you so there are no uncertainties.
Declaration of Trust
Sometimes it may be necessary to prepare a legal document known as a Declaration of Trust which is a document setting out an agreement in writing where there is potentially a discrepancy between the person(s) who hold/ing the legal title to a property and the person who owns the underlying legal and beneficial interest in the property.
The main benefit of preparing such a document is to provide written evidence of the agreement which sets out the intention between parties as to who owns the underlying beneficial and equitable interests in the property. The purpose of the Declaration of Trust is to provide clear evidence of your agreement and intentions relating to the equity in the property or being injected into the transaction on which it is signed.
Examples of where it is used are:
Where a couple own a property in their joint names, but they each provide different contributions to the purchase price, e.g. 25% and 75%, and wish that their contributions are reflected in a legal document; or
Where a husband or wife owns the legal title to their property in their sole name, and the other spouse (by consent) wishes the underlying beneficial interest (i.e. the net sale proceeds) to be reflected in a legal document.
The preparation of such document will incur reasonable costs in addition to the usual conveyancing costs. Please feel free to speak to one of our Solicitors who will be able to advise you of the costs and the preparation of such document, if necessary.
There are several reasons why people remortgage their property. A common reason is to raise capital for home improvements, or where additional funds are required for family needs or re-investment purposes. At Baileys Solicitors we offer a quick and efficient service for the conveyancing required in a re-mortgage transaction, whereby we undertake your instructions and deal with the handling of the matter by keeping things very simple. We can deal with you by phone, post text messaging and/or email alone, without you attending our offices. Sometimes there is no requirement for conventional searches to be carried out (but this depends on your lender's requirements) because search indemnity insurance is sometimes acceptable to lending institutions which leads to the cutting down on the usual amount of time it takes to complete the transaction.
Our priority is to ensure that we comply with your instructions to your satisfaction, and deal with the completion of the conveyancing on the Re-mortgage/ re-finance as soon as practicable after receipt by us of your mortgage offer. We go through your transaction carefully and deal with the Land Registration process and post completion formalities as a priority.
Transfer of Equity
If you decide you no longer wish to live with your co-habitee partner then it may be necessary to transfer your share of the property to the other partner or vice versa. A Transfer of Equity is common when, usually, co-habitees decide that they are no longer able to live together, but one co-owner wishes to continue living in the property. Subject to the consent of any lender who has a secured charge over the property, it can be transferred fairly quickly. The property will usually be transferred subject to the mortgage whereby the co-owner transferring their share will be released from their mortgage obligations. It is not unusual for the remaining co-owner to raise an additional mortgage advance from the lender to be able to pay out a fair share to the outgoing co-owner.
Whether you have a mortgage over your house or land, we are vastly experienced and are able to assist you in transferring the property into any additional or sole party’s name/s, or transferring the property or land from more than one person’s name into fewer person's name/s, subject to any lender’s consent.
We give priority to your instructions and deal with the preparation of the legal documents and execution of these efficiently, with the aim of completing your matter and dealing with the Land Registration process, as soon as possible.
Please click here for our competitive fees to deal with your conveyancing transaction.