Lock up and go
Heighton, M
Lock up and go - 2002 - Estates Gazette (0225) 22 June 2002, 146-147(2) .
Examines lock-out agreements in the context of an investor looking to sell a prime investment, and addresses issues that the seller should consider when entering into such an agreement. Discusses the nature of the seller's obligations and explains that by entering into an agreement the seller is not committing to the proposed sale but is prevented from selling the property to a third party during the lock-out period. Advises that sellers should be wary of agreements that are not in a formal written form and suggests that an effective lock-out agreement should include the payment of a non-refundable deposit and clearly set out the length of the lock-out period. Also considers the type of obligations that the seller should impose on the buyer and explains what happens if the seller is in breach of the lock-out agreement.
LOCK OUT AGREEMENTS
INVESTMENT
BUYERS
SELLERS
DEPOSITS
OBLIGATIONS
Lock up and go - 2002 - Estates Gazette (0225) 22 June 2002, 146-147(2) .
Examines lock-out agreements in the context of an investor looking to sell a prime investment, and addresses issues that the seller should consider when entering into such an agreement. Discusses the nature of the seller's obligations and explains that by entering into an agreement the seller is not committing to the proposed sale but is prevented from selling the property to a third party during the lock-out period. Advises that sellers should be wary of agreements that are not in a formal written form and suggests that an effective lock-out agreement should include the payment of a non-refundable deposit and clearly set out the length of the lock-out period. Also considers the type of obligations that the seller should impose on the buyer and explains what happens if the seller is in breach of the lock-out agreement.
LOCK OUT AGREEMENTS
INVESTMENT
BUYERS
SELLERS
DEPOSITS
OBLIGATIONS