EM Law | Commercial Lawyers in Central London
Commercial Contracts, AI, Technology, Data Protection and Media Law
Our luxury assets solicitors can advise on a wide range of transactions.
Whether it is that long awaited acquisition of a Gulfstream G500 jet or a Sunseeker yacht, the addition of that 1952 Bentley Continental to your classic car collection or the purchase of a Damien Hirst original, our luxury asset and art lawyers can advise on the legal issues involved and draft and negotiate the necessary contracts.
Our clients want their boat purchase to be plain sailing. We work closely with brokers, tax advisers and marine professionals throughout the process – flagging potential issues, considering ownership structures, assessing private versus private or commercial use and addressing crewing requirements.
The steps involved in the transaction can be complex and require specialist legal, tax, and insurance advice. We assist in coordinating with marine surveyors who provide guidance on the condition survey, sea trial and due diligence of the yacht’s critical documentation.
The contractual process, starting with offer and acceptance and concluding with the closing, normally includes due diligence, negotiation of the purchase agreement, escrow and deposit, bill of sale and the protocol of delivery and acceptance.
We also may need to liaise with escrow agents, yacht documentation specialists and title closing service providers and be involved in the registration process.
Since sellers and buyers may be based in different jurisdictions and the vessel may be located somewhere else entirely, these transactions often involve international elements. When necessary, we can introduce overseas lawyers and other professionals to ensure a seamless process.
EM Law’s approach is practical and commercial throughout leading the team of professionals engaged to navigate the journey from offer to ownership.
Buying a pre-owned private jet is an exciting endeavour, but when investing millions in a purchase, means that our clients need specialist advice. We assist in putting together and working with a team of specialist advisers, including aviation brokers, tax advisors, technical advisers and insurance brokers to make the transaction go smoothly.
Once our client has decided on the aircraft they wish to purchase and the advisory team is in place, the first step is typically the Letter of Intent (LOI). This document sets out the principal deal terms and may be subject to a great deal of negotiation. Alongside the LOI, arrangements for the deposit and escrow account will be agreed.
The next key document is the Aircraft Purchase Agreement (APA) – the most critical contract in the transaction. While based on the LOI, the APA contains numerous additional provisions, all of which require careful negotiation.
Although the client may have inspected the aircraft personally, the Pre-Purchase Inspection (PPI) is a critical step in the transaction. The inspection is carried out by independent technicians whose job it is to ascertain if the aircraft meets the condition requirements specified in the LOI and/or APA. The PPI is paid for by the purchaser and there is often a great deal of negotiation regarding any “defects”, as the seller will be required to remedy them prior to delivery of the aircraft.
We work closely with tax advisers to address customs, import duties and VAT if the aircraft is to be imported into the UK or EU. Additionally, we assist in structuring the purchase, including a potential use of a Special Purpose Vehicle (SPV) and determining the optimal jurisdiction for its establishment.
Further crucial steps include title searches and liaising with aviation authorities in the relevant jurisdictions to de-register and re-register the aircraft.
Prior to completion, we will have agreed on the form of Bill of Sale which transfers title from seller to buyer.
Our job is to make the journey for our clients as free from turbulence as possible.
Art transactions require EM Law’s specialist lawyers to advise, negotiate and draft contracts to protect our clients’ interests.
We provide expert legal advice to individuals, institutions, estates, trustees, family offices, galleries, art and antique dealers on matters including:
EM Law’s art law team is well versed in the fascinating world of art. We have worked with clients who come from all over the world to advise on the legal issues involved in their business including contract, commercial and intellectual property law.
The art business is international and EM Law’s art lawyers can help with international transactions. The parties to an art contract may not reside in the UK but have agreed to contract under English law, and we have a network of overseas art lawyers to call upon should there be any relevant legal considerations in any particular jurisdiction.
We can also introduce our clients to specialist tax advisers regarding the structuring of their business and art transactions as well as customs and import duty advisers. Our company lawyers advise clients on the ways of establishing an art business as a sole trader, partnership, LLP or limited company and on the sale or purchase of an art business.
EM Law’s property lawyers can advise on your purchase or lease of a gallery or offices.
Call our solicitors in London on
+44 (0) 203 637 6374or make An online enquiry to see how we can help you today
