Commercial Property Transactions - Raising Enquiries

26 May 2009

Commercial Property Transactions - Raising Enquiries

When buying a commercial property, it is advised that the Commercial Property Standard Enquiries are used in order to obtain all the usual information relating to the property.

Many revisions have been made to the standard enquiries over the years, and it is therefore important to ensure that you use the correct and latest version.

The following standard enquiries are recommended for use in all commercial transactions:

- CPSE.1 (version 2.9) General pre-contract enquiries for all commercial property transactions

- Alternatively, Form RQ (version 2.11) could be used. This is a request for replies to Commercial Property Standard Enquiries

- STER (version 2.2) Solicitor's title and exchange requirements

- SCR (version 2.0) Solicitor's completion requirements

- Disclosable Overriding Interests questionnaire

The following standard enquiries should be used depending on the particular transaction:

- CPSE.2 (version 2.2) Supplemental pre-contract enquiries for commercial property subject to tenancies

- CPSE.3 (version 2.0) Supplemental pre-contract enquiries for commercial property on the grant of a new lease

- CPSE.4 (version 2.2) Supplemental pre-contract enquiries for commercial leasehold property on the assignment of the lease

- CPSE.5 (version 1.1) Enquiries before surrender of a rack rent commercial lease

It is always advisable to seek expert advice when considering a commercial transaction

Inam Ali is a Solicitor at Lawdit, specialising in Commercial and Intellectual Property Law, and can be contacted via email: inam.ali@lawdit.co.uk