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Grant of lease: Engrossment and execution of the lease

Grant of lease - Engrossment and execution of the leaseA lease is often prepared in two identical parts; the lease and the counterpart. While the lease is executed by the landlord, the counterpart is executed by the tenant. Upon completion, these are exchanged so that each party has a copy of the lease signed by the other in the case of any subsequent dispute.

As with the transfer deed in the case of a sale of freehold property, a top copy of the lease and the counterpart should be prepared so that parties to the agreement sign on them. As per Standard Conditions 8.2.5 and SCPC 10.2.5 the landlord’s conveyancing solicitor should prepare these engrossments. Sometimes, the landlord may require the payment of a special fee to prepare this engrossment. If this is the case, the same should be included by means of a special condition in the contract. The landlord signs the lease to show his readiness for completion and the counterpart should be sent to the tenant’s conveyancing solicitor. This should be sent at least five working days before contractual completion date for execution by the tenant.

Photo courtesy: Meghan Naxer

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