In response to the dramatic reduction in cashflow for most small businesses, commercial tenants in Scotland are now benefiting from additional protection from eviction on the grounds of non-payment of rent amidst the COVID-19 pandemic.
While the UK may be in lockdown, that does not mean that life cannot continue and the business world must stop, if anything it is even more important now that we continue to press on with business transactions and embrace technology to help us do this.
All of a sudden, many tenants are struggling with cashflow difficulties as a result of the Coronavirus. Most tenants either don’t require their premises or are unable to use them due to enforced shutdown on the grounds of public health.
The Application Record of the Land Register of Scotland closed on 24 March 2020 as a result of the risk of Coronavirus.
As a result, the Property Law Committee of the Law Society of Scotland is strongly recommending that parties to conveyancing and security transactions should attempt to reschedule settlements rather than settling during the closure of the Application Record.
