What happens if I want to sell the property before the leaseback term expires?
A. It is possible to sell the property before the leaseback scheme expires, however such a sale is met with certain provisos. Upon sale, the purchasing party are under contractual obligation to lease the property back to the management company under the terms of the original scheme the property was purchased in. They will continue the remainder of the leaseback term, as per the original contract. The party selling the property will have to pay the remainder of the VAT that has yet to be amortised, and this VAT will be reimbursed to the new owner.
