Deed of Variations
A Deed of Variations may be utilised in lieu of entering into an entirely new lease. One of our devoted specialists will offer guidance throughout the lease extension procedure to guarantee adherence to the legal process, attainment of a favourable outcome, and consistent protection of your interests.
Deeds of Variations permit modifications to a lease without requiring the tenant to sign an entirely new lease. You will be assisted by one of our committed specialists in extending a lease in a manner that adheres to the law, guarantees a positive outcome, and safeguards your interests at all times.
What is variation deeds?
When a lessee and lessee agree to modify the stipulations of a lease, a Deed of Variations is a customary instrument employed. It furnishes a structure by which the involved parties may record the specific modifications that have been reached.
Situations in which a Deed of Variations is unsuitable?
When either party desires to alter the dimensions of the premises or the term of the lease, this Deed of Variations is not appropriate for implementation.
What is the reason for a lease variation?
There are numerous potential causes for change. A frequent occurrence involving lengthy residential property leases is the identification of an error in the lease or its plan during the sale process, which necessitates rectification in order to appease the buyer or lender. An additional prevalent rationale is that although the lease terms may have complied with legal requirements at the time of its issuance, approximately three decades ago or earlier, they no longer align with current prudent or secure legal conduct, nor do they address risks perceived by lessors or lessees.
How we can help?
There are many reasons why a lease may need to be varied – whatever those reasons if you need an experienced opinion on whether you need to vary and a fast, competitive lawyer, get in contact with us.