In this article, Lisa Morrison, SQE2 module leader at The College of Legal Practice, shares her insights into commercial property practice:
Lisa has 25 years of experience as a solicitor, qualifying in 1997. She has worked in various roles, including private practice, in-house at the Land Registry, and now in legal education.
“When I started my legal career, I wasn't sure what area I wanted to practice in. Initially, I didn't enjoy land law at all during my undergraduate studies, so never thought that I would become a commercial property lawyer. In my training contract, my first seat was in commercial litigation, and I quickly realised that contentious work wasn't for me. I didn't enjoy the arguing and found some disputes could even feel quite petty. My second seat in commercial property, however, was a turning point. I really got along well with my training principal, which made the experience more enjoyable, and before I knew it, I found myself enjoying commercial property.
In commercial property, I handled a variety of tasks, including leases and licenses. I advised landlords on leasing business premises and tenants on the terms of their leases. I also dealt with sales and purchases of freehold properties, performing due diligence to ensure my clients were fully informed about their transactions. I particularly enjoyed the investigative aspect of this work.
In Birmingham, I transitioned into property finance, working closely with the banking team. Here, the property served as security for loans. I handled high-value deals, such as a £260 million portfolio of hospitals, which required extensive due diligence and coordination with both the buyer's and the bank's solicitors. I enjoyed the meticulous nature of this work, which involved checking and verifying the buyer's solicitor's work to ensure all legal and regulatory requirements were met.
Throughout my career in private practice, I worked with a range of clients, from small business owners to large organizations, handling various property transactions. I then moved to the Land Registry, that this exposed me to the complexities and potential pitfalls of property transactions. I dealt with issues that arose during the registration process, which were often more challenging than I had anticipated. At the Land Registry, I also tackled property fraud, a particularly daunting and intriguing aspect of my role. This experience broadened my understanding of the legal landscape and the importance of thoroughness in property law.
There’s a lot more to property law than you might think. About 15 years ago, there was a scam where fraudsters would put "for sale" boards in the front gardens of properties that seemed unoccupied. They’d include a phone number, and if someone called to ask why the board was there, they’d know the property was being watched and would remove the board, claiming it was a mistake. But if no one called after a few weeks, they’d target that property, change the address for service and other details at the Land Registry, and before you knew it, the property was owned by someone else.
This kind of fraud was really interesting to work on. When you're in-house with the government, you have the opportunity to move sideways into other government legal departments, like the Treasury. If I’d had the chance, I might have spent more time there, because it seemed so interesting. After my time at the Land Registry, I moved back into private practice and continued doing the same sort of work as before, dealing with landlords, tenants, buyers, and sellers, and acting for banks. If you enjoy detail and are good at it, commercial property is definitely an area where you need to cross all the t's and dot all the i's!