Michael Lever discusses the importance of detailed and well-drafted Heads of Terms (HoT) in lease agreements to avoid valuation and interpretation issues. He highlights key elements to include in HoTs and emphasises the role of surveyors in ensuring clarity, especially in complex lease terms. Introduction After outline terms and conditions are agreed in principle, the next stage is to draft Heads of Terms for approval. Once upon a time, HoTs were simple: the parties, their lawyers, the outline terms.…
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English 