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.
Call and speak to a member of our team on 01244 312306