Deeds of Variation
Variation of covenants and conditions
An application for the entry of a note that covenants or conditions in a registered lease have been varied may be made by lodging:
(i) a deed of variation;
(ii) the Land Certificates for both the “parent” and leasehold folios
No precedent is suggested for such a deed because the types of covenants that might be amended and the methods of amendment are numerous. It is suggested that the deed be drafted as if it related to unregistered land, but that it should contain a Land Registry heading referring to both folios affected.
Variation of the terms of a registered charge
An application for the entry of a note that the provisions of a charge deed have been varied may be made by lodging:
(i) a deed of variation;
(ii) the original Certificate of Charge;
(iii) the Land Certificate
No precedent is suggested for such a deed because lending institutions normally specify their own individual requirements. However, the deed should contain a Land Registry heading, identify the registered owner and the charge owner, and refer to the date of registration of the charge.
Where the variation would have a prejudicial effect on the rights of the owner of a subsequent charge, a consent executed by such subsequent charge owner should be produced.