Sub-sale—ready, willing and able to complete?
Sub-sale—ready, willing and able to complete?

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Sub-sale—ready, willing and able to complete?
  • Sub-sales—who is responsible for arranging completion?

SDLT is not payable by a sub-seller in a conventional sub-sale which ordinarily completes. So long as the main contract and the sub-contract complete at the same time; whether by way of a direct transfer to the sub-buyer, or by way of two separate but simultaneous transfers, and provided there has been no prior substantial performance, the sub-seller does not pay SDLT. Substantial performance or completion of the principal contract at the same time as the substantial performance or completion of the secondary (sub-sale) contract is to be disregarded.

However, if circumstances arise (as in this case) whereby the main seller is able to force the sub-seller to complete before the sub-seller can force completion of the sub-sale contract, Finan