Conveyancing: Commercial Property in Ireland 
Commercial Conveyancing Details: Freehold & Leasehold
When a company decides to purchase a new building or property, there is a complex process involved that is, essentially, organised by the company's solicitor. When a company contacts a solicitor about acquiring or selling a property, the solicitor's job is to find out whether the company in question has the authority to enter into the transaction. It is also the solicitor's job to talk to the company's lenders and give security for the transaction. The process can get even more complicated if the transaction involves both the company itself and the directors of the company, as well. The company and its directors can help the solicitor a bit by providing the names and contact information for: the directors of the company, the shareholders, and, additionally, any relationship between the shareholders and the directors.
The solicitor also deals with the title information. There are two main types of titles: freehold and leasehold. The title portion of the transaction is dealt with differently depending on whether the property is freehold or leasehold and if it is registered with the Land Registry.
If the property is registered with the Land Registry, there is no title. Instead, the property has a folio with all the information in it divided into three sections: property description, owner information, and the financial information for the property (such as mortgages and payments).
If the property is not registered with the Land Registry, the title must be provided dating back a number of years. If the property is a freehold property, title details must be given for the last 20 years. If the property is leasehold, title details must be given for the last 30 years.
The company's solicitor knows the ins and outs of the process, so it is always best to discuss the specific details of your transaction with a properly qualified commercial conveyancing solicitor.
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