Completion

Once contracts have been exchanged, the parties are contractually bound to complete the transaction on the agreed completion date. As we saw in Chapters 12 and 13 , the document which creates or transfers the estate in land is likely to be a TR1 or a lease. There may be associated documentation which requires completing at the same time as the TR1 or the lease, such as consent documentation (e.g. a Licence to Assign) or mortgage documentation. This chapter outlines the method and process for completing the various documents to effect the creation of a leasehold estate or the transfer of a freehold or leasehold estate from one party to another. This chapter is relevant to all freehold and leasehold Transactions.