Transactions
We act for both buyers and sellers (including individuals, trusts, companies and partnerships) in the acquisition and sale of rural property. We have the expertise to deal with all manner of freehold and leasehold properties, ranging from small country houses and garden or parkland, farms, equestrian property and large landed estates comprising thousands of acres of land along with residential, commercial and agricultural buildings. We also act for banks/lenders (and borrowers) in the finance and charging of such property.
The sale and purchase of property can be a stressful process, but our team have specialised in not only dealing with the legal issues but also supporting clients through the process. We manage all the issues before they become a problem, explain everything in clear terms and in most cases will inspect the property before our clients are committed to make the process a streamlined, stress-free and satisfying experience for our clients.
The sale and acquisition of country houses and rural property can comprise a wide range of practical and commercial considerations that need to be factored into the process, particularly on the sale and acquisition of a working farm or estate. Particular consideration is given to the timing of the transaction and the need for farming and commercial holdover, valuation of tenant right and ingoing and outgoing valuations, as well as the transfer of environmental schemes, subsidies and environmental permits and the complexities that come with them.
We also have the expertise to advise on the necessary course of action to deal with employees and service occupants and the application of TUPE.
We have specific and in-depth expertise in advising on heritage assets and listed buildings, both at the point of any transactional and in the management of issues going forward.
The transactional process involves the following stages:
Acquisitions
- Reviewing sales particulars and heads of terms
- Commissioning pre-contract searches
- Full title investigation and review of registered and unregistered land
- Raising supplemental enquiries
- Investigating the planning and building control position of a property
- Drafting a report on title for the benefit of our clients
- Negotiating transaction documents
- Advising on Stamp Duty Land Tax (“SDLT”) and the availability of reliefs, notably mixed use, MDR claims and blended use claims
- Drafting and submitting SDLT returns and settling any liability
- Facilitating completion and registration procedures
Sales
- Review of title information, registered and unregistered
- Providing solutions to any defects on title in anticipation of a sale
- Providing title documentation or epitome of title
- Preparation and assisting with compiling all necessary information for replies to pre-contract enquiries
- Responding to enquiries raised by a buyer’s solicitor
- Negotiating transaction documents
- Facilitating completion
Our Rural Land and Business team also have particular expertise in: