As commercial conveyancing experts, Attwood Marshall Lawyers have decades of experience in protecting the commercial interests of business people in Queensland and New South Wales.
We can assist you with:
- Sale of a Commercial Premises
- Purchase of a Commercial Premises
- Office spaces
- Industrial property
- Retail spaces and shops
- Rural Property
Commercial Conveyancing FAQS
- What is Commercial Conveyancing?
The Conveyance of a commercial property can be a more complicated process in contrast to residential Conveyancing. The sale or purchase of a commercial property requires the knowledge of other important areas of law, including entity structuring, tax, town planning and leases.
- What is the process involved with a Commercial Conveyance?
The first step for both Seller’s and Buyer’s is to get the appropriate legal and accounting advice before any Contracts are entered into. The advice should include ensuring the correct entity is referred to in the contract. If this is done incorrectly, there can be implications including stamp duty issues. Advice regarding any special conditions and the Standard Conditions of the Contract is essential.
Once the appropriate legal and accounting advice on the Contract is obtained, the Contract can be entered into and all important dates are diarised. Now the Buyer and solicitor conduct the relevant searches and enquiries in order to ensure the conditions of the Contract are strictly complied with.
Special conditions may include:
- Due diligence enquiries to ensure the commercial viability of the property;
- Council searches to ensure the appropriate zoning rates and use approvals are in place; and
- Review of any leases or any other registered interests and arranging for the transfer of these if required.
Once the conditions have been waived or satisfied, the next step is to prepare for settlement. This could include liaising with financial institutions regarding finance for purchasers or release of mortgage for sellers.
The final stage of the process is the settlement. The settlement includes ensuring any applicable adjustments are attended to and the appropriate legal documents are transferred in accordance with the Land Titles office requirements.
To read more on Commercial Conveyancing: 7 Risks to Commercial Property Buyers
Contact Property and Commercial Department Manager Jess Kimpton (firstname.lastname@example.org or 07 5506 8214) for help with any queries you may have in relation to commercial conveyancing.