This Practice Note looks at the process of transferring a commercial property. It assumes that the property being transferred is a registered freehold or leasehold, is being sold either with vacant possession or subject to lease(s) and is being acquired either as an investment or for the purchaser’s own occupation.

It contains the following key sections which cover the different stages of a typical sale and purchase transaction. Each section contains links to other Lexis+®UK materials which provide more comprehensive information on the topics covered:

1. •

   Preliminary matters

2. •

   Pre-exchange—the due diligence process

3. •

   The contract and exchange

4. •

   Between exchange and completion

5. •

   Completing the transaction

6. •

   Post completion

The guidance in this Practice Note is not exhaustive and will not cover every eventuality for every transaction. See also:

1. •

   Structure of real estate finance—overview

2. •

   Real estate in corporate transactions—overview

3. •

   Practice Note: Buying from an insolvency practitioner—the sales process and insolvency issues in property

4. •

   Practice Notes: Property development joint ventures—acting for a developer and Property development joint ventures—acting for a landowner

5. •

   Practice Note: Contract races