Lead Forensics
Prettys Solicitors Ipswich

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Getting A Head Start – Why Tenants should obtain professional advice before agreeing Heads of Terms

In many leasehold transactions the legal adviser only becomes involved once the tenant and the landlord have already agreed the Heads of Terms for the transaction, usually with the aid of an agent. Once finalised, Heads of Terms form the basis of any leasehold transaction and cover key factors such as length of term, break dates, rent review provisions and repairing obligations.

Once agreed, it can then be difficult for a tenant to try to vary the agreed terms if the legal adviser suggests that there might be better options to consider or if key points have been left out of the document. A full and thoroughly considered set of Heads of Terms can save both parties time and money in the long run as the more that can be agreed up front means less negotiation and re-drafting of the lease clauses during the transaction.

The following are some of the key points which should be considered by tenants before the Heads of Terms are formally agreed:

These are only some of the options to consider and at Prettys you can be confident that we will tailor our advice to your business and your premises. If you would like further legal advice on Heads of Terms or any commercial leasehold transaction then please contact Rebecca Cleal, Senior Associate at Prettys on 01473 298250 or by email to RCleal@prettys.co.uk

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