Business Lease Solicitors
Land can be purchased in a variety of ways either by an individual person or by a company or through a group or individuals and / or companies.
There are three main ways in which property can be purchased as part of a wider group.
Contractual Joint Venture – this is a contract between the parties purchasing the property which sets out in precise terms for what each side is responsible.
Joint Venture Partnership – this is when the parties create a business in the form of a partnership to purchase land.
Special Purpose Vehicle Companies – this is a special company created by the parties exclusively for purchasing and / or developing a property. It differs from a Joint Venture Partnership in that it can offer added protection to the parties in the event of insolvency through limited liability and it has different tax rules.
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