The landlord’s conveyancing solicitor will also have to draft a contract for the lease as and when required. It is drafted in the same way that the seller’s solicitor drafts a sale of freehold property.
But the contract must mention that the property in question is leasehold and should also mention details of the terms vested in the tenant. The incumbrances affecting the freehold title should be discussed along with providing an indemnity by the tenant with respect to future breach of covenants that affect the title. In all other respects, the contract shall be the same as that prepared on a freehold transaction.
When the lease is for a term less than three years, taking effect in possession & with no premium paid for its grant, it should satisfy S2 of the Law of Property (Miscellaneous Provisions) Act of 1989.
As per Standard Conditions 8.2 (SCPC 10.2) the lease should be in the form annexed to the draft contract. The landlord should then sign the lease and give it to the tenant within five working days before the completion date.
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