If you let your barn using what you believe to be a simple licence agreement, then you should be aware that you may have inadvertently granted the occupier a lease. This is because if you allow someone to have exclusive occupation of a building (or part of a building) then legally you are giving them a lease, even if you call it a licence.
When selling or buying land, you might hear the terms “conditional contract”, “option agreement” or “pre-emption agreement”. Whilst these all essentially involve the sale of land from a seller to a buyer, there are significant differences.
Overage – also sometimes known as “clawback” – is a mechanism to enable a seller to share in any potential increase in the value of the land they are selling.
There is a growing trend of rural landowners leasing barns for commercial purposes. But what factors should you consider before you take the leap?
A recent ruling in the Court of Appeal confirms that land owners do not have to take costly steps if they want to prevent people from parking on their land.
Rachael Spalton and Victoria Sandberg of Longmores Solicitors’ commercial property team and Paul Raitt of Brasier Freeth Surveyors recently held a joint seminar on the subject of “Buying Or Leasing Business Premises; Pitfalls For The Unwary”.