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Lease Agreement For Sale Template for England and Wales

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Key Requirements PROMPT example:

Lease Agreement For Sale

I need a Lease Agreement For Sale for transferring a retail unit lease in central London, with a premium of £250,000 and remaining lease term of 15 years, including provisions for subletting and service charges, to be completed by March 2025.

Document background
The Lease Agreement For Sale is essential when transferring existing leasehold interests in England and Wales. This document is commonly used when a current tenant wishes to sell their remaining lease term to a new tenant, subject to the existing terms and conditions. It must address both the sale aspect of the transaction and the ongoing leasehold obligations. The agreement needs to comply with relevant property legislation and typically includes details about the property, purchase price, payment terms, ongoing rent obligations, service charges, and any restrictions or conditions attached to the lease. This type of agreement is particularly important in ensuring a clear and legally compliant transfer of leasehold interests while protecting all parties' rights and obligations.
Suggested Sections

1. Parties: Details of the landlord and tenant, including full legal names and addresses

2. Background: Context of the lease sale and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the leased property including boundaries and included fixtures

5. Term and Renewal: Duration of lease and renewal provisions

6. Rent and Payment Terms: Payment amounts, schedules, and methods

7. Maintenance and Repairs: Responsibilities for property maintenance

Optional Sections

1. Break Clause: Early termination provisions - used when parties want flexibility to end lease early

2. Assignment and Subletting: Rights to transfer or sublet - used when transfer rights are relevant to the agreement

3. Service Charges: Additional charges for services - used for leases in multi-occupancy buildings

Suggested Schedules

1. Schedule 1: Property Plan: Detailed plans and drawings of the property

2. Schedule 2: Inventory: List of included fixtures and fittings

3. Schedule 3: Service Charge Items: Breakdown of service charges if applicable

4. Schedule 4: Permitted Use: Specified allowed uses of the property

5. Appendix A: Energy Performance Certificate: Required energy efficiency documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























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Industries

Law of Property Act 1925: Fundamental legislation that defines legal estates and interests in land, and sets out requirements for creation and transfer of legal interests

Landlord and Tenant Act 1985: Key legislation defining landlords' repairing obligations and requirements for fitness for human habitation

Landlord and Tenant Act 1987: Legislation covering landlords' obligations regarding service charges and rights of first refusal for tenants

Law of Property (Miscellaneous Provisions) Act 1989: Specifies requirements for contracts to be in writing and formal requirements for execution

Consumer Rights Act 2015: Governs fairness of terms in consumer contracts and transparency requirements

Housing Act 1988: Defines assured and assured shorthold tenancies and security of tenure provisions

Commonhold and Leasehold Reform Act 2002: Contains right to manage provisions and service charge consultation requirements

Regulatory Reform (Business Tenancies) (England and Wales) Order 2003: Covers business tenancy provisions and their application

Land Registration Act 2002: Sets out registration requirements and priority of interests in land

Housing and Planning Act 2016: Contains recent updates to housing law and energy efficiency requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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