April 2, 2020
Covid-19 and Commercial Leases
As the Covid-19 health emergency continues to escalate in Ireland, many areas of society are being impacted in a way much similar to that of the financial crisis. One area...
Property Finance and Secured Lending
Lavelle Partners commercial property and banking Solicitors advise in relation to commercial property funding and security for lenders.
Our team will work with you from the inception of any property related lending project to ensure the legal and security aspects of the deal are completely water-tight. We will assist with the initial scoping and due diligence necessary to assess the risks and potential returns to be gained from a commercial lending arrangement.
As ours is a full-service law firm, our property and commercial law teams will coordinate with our other law specialities, including taxation, environmental law, and contract law to provide a complete picture of any risks you as a lender will face, and how best to mitigate them. In doing so, we will provide considerable added-value to your projects by seeking to look at the wider picture of the transaction.
Our team are highly adept at undertaking the perfection of security, whether through a legal mortgage, equitable mortgage, fixed charge, or floating charge, whether the land is registered or unregistered.
The following forms of security are commonly taken over property in Ireland:
Legal mortgage – Under the Land and Conveyancing Law Reform Act 2009 (2009 Act), legal mortgages provide security over property irrespective of whether the land is registered or unregistered.
Equitable mortgage – Whereby a lender is secured by taking possession of all the original title documents of the property that serves as security for the mortgage.
Fixed charge – A fixed charge is a charge on the specific property and typically involves the vesting of a legal interest in the charge at the time of the transaction.
Floating charge – Security interest over a fund of changing assets (e.g. stock or machinery) – this is a relatively rare form of property security.
For further information on how we can help you with property finance and secured lending matters in Ireland and the EU, please contact Lavelle Partners in confidence on (01) 644 5800.
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