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, ranging from the granting of simple retail leases for shops and industrial units to more complex business leases. Our team also possess good drafting skills by drafting either simple or complex Commercial Leases, Deeds of Surrender, Assignment of Business Leases and SPA Agreements. The drafting skills will not only be confined to these documents alone but generally an all-round good level of drafting of key documents in commercial transactions.
Whether you as an individual, company or a firm is involved in property development, purchasing commercial property, selling commercial property or leasing commercial premises, a solicitor from our commercial property department will have the expertise to help secure the deal within your timescale and budget.
We can assist in selling premises, acting for various lenders on the raising of finance, joint venture negotiations and provide property licensing advice and 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 though a structured program of drafting the residential agreement and thoroughly explaining the process to the you so there are no uncertainties.
Declaration of Trust
Sometimes it may be necessary to prepare a Declaration of Trust document. This is a document that can set out an agreement in writing where there is a discrepancy between the person who holds the legal title to a property and the person who owns the underlying beneficial interest in the property.
The main benefit of preparing such a document is to provide written evidence of the agreement between parties as to who owns the underlying beneficial and equitable interests in the property. The Declaration of Trust will provide clear evidence of your agreement and intention at the date it is signed.
Examples of where it is used are:
Where a couple own a property in their joint names, but they provided different contributions to the purchase price, e.g. 25% and 75%, and wish their contributions to be 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 conveyancing costs. Please feel free to speak to one of our Solicitors who will be able to advice 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. 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 and/or email alone, without you attending our offices. Sometimes there is usually no requirement for conventional searches to be done because search indemnity insurance is often acceptable to lending institutions which means cutting down the time it takes to complete the advance.
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 as soon as practicable after receipt by us of your mortgage offer, whereby we go though your transaction carefully and deal with the registration and post completion formalities as a priority.
Transfer of Equity
If you decide you no longer want 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 no longer want to live together, but one co-owner wishes to continuing living in the property. Subject to the consent of any lender who has a secured charge on the property, it can be transferred fairly quickly. It 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 uncommon 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 out going 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 party’s name/s, or transferring the property or land from more than one person’s name into fewer persons 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 registration, as soon as possible.
Please click here for our competitive fees to deal with your conveyancing transaction.