April Fool giveaway

Posted by Justin on Mar 18, 2010 in Blogs, business, buying-pubs, English Pub, law, legal, pub-buying, pub-sale, pub-sales, pubs, selling, solicitor | 0 comments It’s my birthday in April, so I’m giving a 10% discount on all new legal work where I receive (and accept)instructions in April 2010 – you need to quote “promo code April Fool” when giving the instructions (on the authority form, in the case of new clients) in order to qualify, so don’t forget Comments
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Not a clean getaway

Posted by Justin on Sep 4, 2009 in Blogs, business, English Pub, legal, pub-sale, pubs | 0 comments If you have a leasehold pub (or any leasehold commercial premises), selling the lease on to a new tenant does not end your potential liability. Even though the landlord will insist on approving the new tenant before consenting to the transfer of the lease, he or she will also expect you, as the outgoing tenant, to stand as personal guarantor for the new tenant: either explicity under an...
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Stage 11

Posted by Justin on Apr 19, 2009 in Blogs, business, buying, buying-pubs, English Pub, legal-procedure, pub-buying, pub-sale, pub-sales | 0 comments STAGE 11: The buyer’s solicitor raises final enquiries about the title to the property, makes pre-completion searches and drafts the transfer and other documents that will transfer ownership of the property, the business, etc, into the buyer’s name, sending them to the seller’s solicitor for approval Now that contracts have been exchanged, it is down to the lawyers to sort out...
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more on leaseholds

Posted by Justin on Apr 12, 2009 in Blogs, business, buying, buying-pubs, English Pub, legal-procedure, pub-buying, pub-sale, pub-sales, pubs, selling | 0 comments Because of experience in the past, where pubs changed hands – sometimes several times in quick succession – without repair work being done, so running down the estate, Enterprise Inns (for one pubco) now arranges for a schedule of outstanding repairs to be prepared, and usually requires the outgoing tenant to carry out those repairs before the change of ownership can proceed –...
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Leasehold pubs

Posted by Justin on Apr 12, 2009 in Blogs, business, buying, buying-pubs, English Pub, law, legal, legal-procedure, pub-buying, pub-sale, pub-sales, pubs, selling, solicitor | 0 comments Stage 10 in my overview of pub sale and purchase procedure: ” If the pub is leasehold, it is normal that the landlord’s consent to the transfer of the lease to the buyer is needed. Whatever timescale the buyer and seller have agreed, this is subject to the need to get “licence to assign” first. Usually, the procedure for this will have been started at stage 1, so that...
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Stage 7: Money, money, money

Posted by Justin on Mar 24, 2009 in Blogs, business, buying, buying-pubs, English Pub, legal-procedure, pub-buying, pub-sale, pub-sales, pubs, selling, solicitor | 0 comments While all the legal investigations are being dealt with, the buyer needs to get his or her finances in place, ready to – (a) pay a deposit (usually ten per cent of the purchase price) on exchange of contracts and (b) pay the rest of the purchase money, plus legal expenses, plus the stock value, on completion As exchange of contracts and completion often take place on the same day, the...
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