Our clients are contracted to buy land under a non-assignable contract. They wish to enter into a simultaneous transfer of the land to a third party on completion. The seller will not agree to enter into a sub-sale, so that two transfers will be required. It is our understanding that sub-sale relief may still apply, despite there being two transfers. Any ideas how does that work?
Two transfers are ok as long as they are completed simultaneously. I suggest that each one is released at the same time and that the same exact time is endorsed on each form and signed by the conveyancer.