Don’t let the name of this document confuse you. A Heads of Terms is used for a lease. It means that you will use it for any lease agreement that is being made. This legal document is used to set an agreement from the beginning of a commercial transaction which is where the name is derived from. You will find that we have the Heads of Terms for sale on our web site. We have had the template document drafted by a qualified solicitor so that it is current with the laws of England Wales. Although a solicitor has prepared the document you will find it easy to use and legally binding. There is no need to spend more money hiring a high street solicitor when you can do it yourself with our help.
You will only use this document if the property is going to be leased. It doesn’t work if you are selling the property. You may get confused on this point if you don’t realise that there is a Heads of Terms document for an option agreement. The document you are looking at on our website is a Heads of Terms for a lease situation such as we have already described. This template document is to be used to specify the principle terms of a lease that both the tenant and landlord are agreeing to.
The Heads of Terms for a lease isn’t legally binding unless you have both parties sign it. At this time the parties are subject to the agreement that is stated in the Heads of Terms agreement. You will find that the template document will contain confidentiality and exclusivity clauses in it, which also makes it legal once it is signed. You may want to change some of the terms in the actual contract, but the confidentiality and exclusivity clauses will remain binding. None of the parties will be able to negotiate with a third party while the Heads of Terms is intact.
Our easy to use template document will be binding until a contract has been signed or the end date on the Heads of Terms comes up. You can download the Heads of Terms template to your computer so that it is ready for you to complete. This means that if you ever need to use a Heads of Terms template again you will be able to. It can’t get any easier than having the template at your fingertips.
You will find the following generalities in our Heads of Terms template, but you will be able to customise the template if you need to. That is one reason why using our documents is so easy. The transaction nature will be in our document, a description of what is being sold which is the lease when you use this template, the rental price of the lease and warranties or any indemnities that are being given will be found on the template. If there are covenants for the property or any conditions for the lease you will find a place to list them on the Heads of Terms template. You may wish to prepare due diligence before entering into a lease so you would state in this template who is responsible for performing this task. It might also be prudent to include the timeframe for the completion of the lease that has been agreed to.
You will find in our Heads of Terms template that the English used is free of jargon and is proposed in understandable English. This is another reason why people that wish to draft this document on their own find it so easy to use. The solicitor has drafted the terms in clear and concise language, but it is also current in regards to the laws of the UK. If you need a Heads of Terms for personal tenancy using this template would be appropriate.