The final step should not be that difficult — selling reversionary interest
Have you had troubles selling the reversion of your developments? You have completed the development of a site and sold all of the plots; you then wish to dispose of the freehold or leasehold reversionary interest and want the sale to go through as quickly as possible to help finance development of the next site. This is the final step and is often overlooked by developers until the last minute.
To avoid last-minute hurdles, there are a number of points to be aware of during the development and plot sales process. These tips can assist the disposal of your interest in a development, saving time and money that you may not have expected or taken into account as part of the overall development costs…
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This decision represents a welcome return to the ‘pay for what you use’ principle and strikes a fairer balance between different creditor and expense groups.
Winckworth Sherwood has provided a summary of the Trusts (Capital and Income) Act 2013.