Rural and Agricultural Law can have its own unique considerations quite distinct from residential transactions, although there are similarities.
The buyer’s Solicitor will make an offer to the seller, the seller’s Solicitor will issue a Qualified Acceptance with certain conditions to be agreed upon, and ultimately the buyer and seller’s Solicitors will conclude missives once the terms are agreed. The conclusion of missives creates a binding contract and usually a deposit is paid. The Disposition will be drawn up outlining the extent of the property and ensuring the buyer is receiving good title. After this the price is paid and the keys are handed over. The transfer of title is then registered in the Land Register of Scotland.
Also, when considering to buy or sell a farming or rural property, you may be buying or selling more than just land. There could be machinery, stock, or a business concern also.
Whether you are considering buying or selling an agricultural property or have another agricultural query, we can give you guidance and ensure you get the correct advice.
Contact: Williamson & Henry on 01557 330692 for your agricultural or rural matters.
The purchase or sale of woodland is a similar step-by step process to any other property transactions but again with certain peculiarities. It is important to determine if the woodland was planted with the benefit of any grants and what conditions attach to this: Are there any conditions outstanding and what forms are required to transfer any remaining subsidies and obligations? The buyer’s Solicitor will then make a formal offer to the seller’s Solicitor to buy the proposed area of woodland under certain conditions. This begins the missives for the transaction.
It is important to determine that there are no constraints affecting the land which would affect granting applications, planting, felling, or timber extraction.
Once the missives have been concluded, the parties are bound by the contract of sale and neither can back out of the deal without a penalty or remedy in law. For more on property transactions, please see our section on Residential Conveyancing.