Deed Of Variation For Ground Rent

Deed Of Variation For Ground Rent for the United Kingdom

Deed Of Variation For Ground Rent Template for England and Wales

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"I need a Deed of Variation for Ground Rent to reduce the annual ground rent from £250 to a peppercorn for a leasehold flat in Manchester, with the variation to take effect from March 2025, and the property is subject to a mortgage with Barclays Bank."

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What is a Deed Of Variation For Ground Rent?

A Deed of Variation for Ground Rent is commonly used when parties wish to modify ground rent provisions in existing leases, particularly in light of recent legislative changes in England and Wales. This document becomes necessary when landlords and tenants agree to alter ground rent terms, often to comply with the Ground Rent Act 2022 or to make the property more marketable. The deed formally varies the original lease while preserving all other terms and conditions, and must be executed as a deed to be legally valid. It requires careful consideration of existing mortgage arrangements and may need mortgagee consent.

What sections should be included in a Deed Of Variation For Ground Rent?

1. Parties: Details of the landlord, tenant, and any other relevant parties to the deed

2. Background: Details of the original lease and reason for variation of ground rent

3. Definitions: Key terms used in the deed including 'Original Lease', 'Property', 'Ground Rent', 'Variation Date'

4. Variation: Specific changes being made to ground rent provisions including new amounts and payment terms

5. Effective Date: When the variations take effect and implementation details

6. Original Lease: Confirmation that all other terms of the original lease remain unchanged and in full force

7. Execution: Formal execution clauses and signature blocks for all parties

What sections are optional to include in a Deed Of Variation For Ground Rent?

1. Consent of Mortgagee: Required section when there is a mortgage on the property, including mortgagee's formal consent

2. Management Company Provisions: Section required when a management company is involved in the lease structure

3. Service Charge Variations: Section included when service charge provisions are also being modified alongside ground rent

What schedules should be included in a Deed Of Variation For Ground Rent?

1. Schedule 1 - Original Lease: Copy or details of the original lease including date, parties, and registration details

2. Schedule 2 - Property Description: Detailed description of the property if different from original lease

3. Schedule 3 - New Ground Rent Provisions: Detailed breakdown of new ground rent terms, calculation methods and payment dates

4. Appendix A - Plans: Property plans if relevant to the variation or if required for Land Registry purposes

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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