Option Agreements and Solicitors

Getting it drafted properly and protecting both sides

A purchase lease option is not one agreement, and drafting it badly can leave you owning nothing while having paid for the privilege. This book explains the legal side in plain English and is clear that this is the strategy where doing it alone, without a specialist solicitor, is most dangerous. It sets out how the agreements fit together, then the permissions that must be in place for even a well-drafted option to stand. The contracts chapter covers what the documents must contain to protect both sides. You will see why controlling a property under an option makes you the operating landlord, with the safety and compliance duties that follow, and why the tax treatment is more involved than an ordinary purchase and expensive to get wrong. A compliance checklist brings everything together into a sequence to follow, and the final chapter is unflinching about what getting the legal side wrong costs. Next in this series: “A Portfolio of Options”.

What’s inside

• The legal framework in plain English
• Permissions, licensing and planning
• The contracts, and what must be inside them
• Insurance, safety and your legal duties
• Tax treatment and choosing a structure
• Your compliance checklist
• Getting this wrong: what it actually costs

Educational material only, not financial, legal or tax advice. Results are not typical and are not a guarantee of income. Freedom Property Academy LTD, registered in England and Wales.