Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

Commercial property sale and purchase in England and Wales: practical guide to due diligence, contracts, exchange, completion, registration and tax

Published by a LexisNexis Property expert

Practice notes

This Practice Note

This Practice Note outlines the steps involved in transferring a commercial property. It proceeds on the basis that the asset is a registered freehold or leasehold, is being disposed of with vacant possession or subject to existing lease(s), and is being bought either as an investment or for the purchaser’s own occupation. It sets out the principal sections that map the usual stages of a sale and purchase, with each section signposting Lexis+ UK resources offering fuller guidance on the subjects covered:

Preliminary matters
Pre-exchange—the due diligence process
The contract and exchange
Between exchange and completion
Completing the transaction
Post completion

The guidance here is not exhaustive and will not address every eventuality for every transaction. See also:

Structure of real estate finance—overview
Real estate in corporate transactions—overview
Practice Note: Buying from an insolvency practitioner—the sales process and insolvency issues in property
Practice Notes: Property development joint ventures—acting for a developer and Property development joint ventures—acting for a landowner
Practice Note: Contract races
Practice Notes: Selling property at auction and Buying property at auction
Practice Note: Sale and leaseback of commercial

...

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Web page updated on 21/05/2026

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