The following Property guidance note Produced in partnership with Rachel Oliphant of Pinsent Masons LLP provides comprehensive and up to date legal information covering:
STOP PRESS: The Right to Buy Land to Further Sustainable Development (Eligible Land, Specified Types of Area and Restrictions on Transfers, Assignations and Dealing) (Scotland) Regulations 2020 (SSI 2020/Draft) and Right to Buy Land to Further Sustainable Development (Applications, Written Requests, Ballots and Compensation) (Scotland) Regulations 2020, SSI 2020/21, bring into force Part 5 of the Land Reform (Scotland) Act 2016 on the 26 April 2020. This will create a new right to buy land and, as the case may be, an associated tenant’s interest, for the purpose of furthering sustainable development. It is a compulsory purchase power, meaning that a properly constituted community body may seek Ministerial approval for the transfer of land or, as the case may be, tenant’s interest even where the owner of the land or tenant does not wish to sell the land or tenant’s interest, as the case may be. Both private and public land may be bought under Part 5 in Scotland.
This Practice Note considers the different stages in transactions for the sale of commercial property in England and Wales compared to those in Scotland, at pre-contract, contract, post-contract, completion or settlement and post-completion or settlement stages.
The table below highlights the key steps in each stage of a commercial property sale transaction in each jurisdiction taking a very simple transaction with no
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