Commercial Leases · glossary
A short paper from the letting agents recording the main terms of a letting: the floor, the rent, the term and the rest. It is marked subject to contract and binds nobody, but it tells the solicitors what to draft. The lease replaces it at completion (clause 14.2). Chapter 1 · Chapter 2 · see Subject to contract and subject to lease
Explained in Chapter 1, What a Lease Is, of Commercial Leases.
Also explained in Buying Commercial Property.
A letting like this one follows eight steps. It starts with the heads of terms, a short paper from the letting agents. It records the floor, the rent, the length of the lease and the main terms. It is not signed or binding, but it tells the solicitors what to draft.Read Chapter 1, What a Lease Is →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Commercial Leases and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Commercial Leases → · All terms A–Z →