Shape Lease For Free

Under the Law of Property Act 1925, the assignment of a legal lease of whatever duration must be effected by deed, otherwise it may only take effect as a contract to assign the term. A legal lease for more than seven years must be registered at the Land Registry (see land registration).

Although using a solicitor when entering into commercial lease is not a legal requirement, it is however highly recommended. Having a solicitor review your lease ensures that you are adequately protected from onerous conditions and problematic leases.

With a lease agreement, there is a transfer of ownership for a specified time period from the lessor to the lessee, with the actual owner having no possession of that property for the term of the lease. In the case of a rent agreement, full control of the property rests with the landlord of the property.

There is no minimum or maximum term for commercial leases. However, commercial leases tend to have fixed terms of between 1 and 25 years. Within this, most commercial leases are between 1 to 3 years. You and your landlord will agree on the fixed term of your lease before you commit to the lease.

If the council discovers you're using a commercial property as a home, they may take enforcement action. Breach of trespassing laws: if you don't own your office building and you sleep there without permission, you're trespassing. This is considered a tort (a wrongful act) in English and Welsh law.

To rent commercial property, you must sign a lease agreement or licence. A lease is a legally-binding contract which sets out the terms and conditions of the tenancy agreement between landlord and tenant. It offers long-term stability compared to a licence, for example.