Jurisdiction(s):
United Kingdom

Key definition

Completion definition

What does Completion mean? In legal practice, Completion is the point at which a transaction is finally effected, sometimes called 'closing' in cross‑border deals: consideration is paid and title, assets or rights are transferred after all conditions precedent are satisfied or waived and the required completion documents are delivered. Not generally defined by legislation, it is a contractual expression used across conveyancing, corporate/M&A and finance, informed by common law. Key features include a completion date/time; completion mechanics (agenda or checklist); execution and delivery of transfers and ancillary documents; release of funds (often against undertakings); and, where relevant, escrow or virtual completion. Completion usually fixes when...

Rent Guarantees on Investment Property Disposals: Key Drafting Issues on Scope, Covenant Strength, Duration, Letting Obligations and Incentives

Published by a LexisNexis Property expert

Practice notes

What is a rent guarantee?

A rent guarantee is a vendor’s inducement on an investment asset with unoccupied accommodation (eg a vacant store in a shopping centre or an empty floor within an office block). It can arise where a scheme is newly constructed and the developer has not placed tenants in every unit by Completion, or where an existing unit becomes empty between exchange and completion. A rent guarantee might also be deployed if a tenant is not paying the full rent or has entered Insolvency. It promises the purchaser a steady stream of rental income for the void space, effectively mirroring the rent that would have been payable if let. A seller may put a rent guarantee on the table when the premises are expected to let shortly after completion (eg there is an interested occupier or the space is in strong demand). This removes the need to agree a downward price adjustment. The aim of a rent guarantee is to leave the buyer as if the premises had been let at completion, placing it in the same position. In return for providing the guarantee, the seller achieves a higher headline price for the asset, but will be...

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Web page updated on 22/05/2026

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