Commercial conveyancing differs from house and land conveyancing in that each transaction is very different to the next. We have defined procedures that allow flexibility, depending on the transaction and communication is paramount.
Step One: Let’s Talk
It is important that we discuss with you the reason for you entering into this transaction and what your expectations are. All sorts of things can impact the transaction:
- Taxation (GST, CGT)
- Responsibilities of the parties before and after the transaction
Step Two: Drafting of Terms
The terms of a commercial contract can be complex and need to deal with all of those things discussed with you as well as the what-if scenarios that can happen in the course of a legal transaction. This (and step 3) is what sets us apart from the rest.
Step Three: Due Diligence
Often in commercial transactions, we will need to involve a team of chosen professionals, such as your accountant, your financial advisor, your insurance broker, your lender, etc.
Most importantly you need to be aware of all the implications of entering into such a transaction.
Step Four: Settlement
At settlement we assist in the handover of funds in return for the rights to the trademark, the business name, the intellectual property, the keys, etc.
Step Five: After Settlement
After settlement you are provided with a summary of the transaction and a balance sheet showing funds in and funds out. In addition, there may be some follow up work for us in the registration of business name, licences, leases, etc.