A Deed of Variations allows changes to a lease without the need to sign a whole new lease. One of our dedicated experts will guide you through the process of extending a lease to ensure that the legal process is upheld and that the outcome is favourable for you and that your interests are protected at all times.
What is deed of variations?
A Deed of Variations is a standard document for use where a landlord and a tenant agree to vary the terms of their lease. It provides a framework that can be used by the parties to document the particular changes that they have agreed.
Where Deed of Variations is is not suitable?
This Deed of Variations is not suitable for use where the parties wish to increase or decrease the length of term of the lease or to increase or decrease the extent of the premises.
Why does a lease need to be varied?
There can be various reasons for change. Common reasons with long residential property leases are that, on sale, it is discovered that there is an error in the Lease or its plan and this needs to be corrected to satisfy a buyer or lender. Another common reason is that, whilst the terms of the lease may have been appropriate for the law when the lease was granted, perhaps 30 years ago or more, they are no longer compliant with good or safe legal practice today, or perceived risks for leaseholders or lenders.
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.