Getting Down to Details

When going through the asset transfer process, the devil is in the detail. It can be very time consuming and frustrating negotiating the basics, even once the principle of transfer and the broad heads of terms have been agreed. Sorting the details such as VAT, who pays what etc. is often much more tricky. The key to moving forward is to agree a timescale for the key stages negotiated in partnership, through a transparent discussion of the challenges and an understanding of the needs of all parties.

Be prepared for the long haul - the details take time to iron out, and all parties realising this at the start will avoid (or at least mitigate) frustration.  However it should be noted that once a legal Asset Transfer Request has been submitted, and validation notice issued acknowledging all information has been received, timescales laid down in the Community Empowerment (Scotland) Act 2015 will apply.