Very helpful! What's the likelihood a freehold will refuse to remove ground rent for example? is it rare to add a deed of variation to remove the ground rent?or it's a common and well accepted thing form the freeholder? Thanks in advance for your reply D
Yes - removing the ground rent would be rare. Changing the ground rent amount is not so rare. Many freeholders charge nominal amounts anyway (say 10 GBP per year) while others charge thousands
Is it possible to be asked to provide a deed of variation when purchasing a free hols property? This property is not a lease hold. It is a free hold property.
Although (in this film) I talk mainly about a deed of variation on a leasehold agreement it is possible to have deeds of variation on any contract or agreement. So let's say a freehold house has a 10 year contract with a gardening company to maintain the grounds and both the house owner and the gardening company agree to a small change in the contract. Rather than draw up an entirely new agreement they will add a deed of variation to the current contract.
What happens when two parties who are both executors (my brother and sister) are both NOT agreeing and want everything and want to exclude the third one (me) a beneficiary?
This is not really to do with a property purchase Kim, you should seek qualified legal advice. Executors are required to act in the best interests of the beneficiaries. If you don't believe they are doing so you are free to go to court and seek a ruling and/or possible compensation for financial losses.
Sort of. It is possible for a house to be both a Freehold and a Leasehold which makes it possible to have a deed of variation on the Leasehold. I'd need to know more about your situation to understand better what you are asking about.
Sorry Alex - missed this. A deed of variation is basically like something being added to a contract. If there is a dispute later about the deed of variation the matter would be dealt with by a judge in a court who would look to interpret what both you and the freeholder were trying to achieve when creating the deed of variation.
Does this book include examples of/templates for deeds of variation? For example, if thr freeholder has agreed, ans we don't want to involve a solicitor, does the book advise on creating this form and filling out the AP1 to accompany it so we can submit to the register ourselves?
Thanks for the clear explanation
Glad it helped!
Very helpful!
What's the likelihood a freehold will refuse to remove ground rent for example? is it rare to add a deed of variation to remove the ground rent?or it's a common and well accepted thing form the freeholder?
Thanks in advance for your reply
D
Yes - removing the ground rent would be rare. Changing the ground rent amount is not so rare. Many freeholders charge nominal amounts anyway (say 10 GBP per year) while others charge thousands
Is it possible to be asked to provide a deed of variation when purchasing a free hols property? This property is not a lease hold. It is a free hold property.
Although (in this film) I talk mainly about a deed of variation on a leasehold agreement it is possible to have deeds of variation on any contract or agreement. So let's say a freehold house has a 10 year contract with a gardening company to maintain the grounds and both the house owner and the gardening company agree to a small change in the contract. Rather than draw up an entirely new agreement they will add a deed of variation to the current contract.
What happens when two parties who are both executors (my brother and sister) are both NOT agreeing and want everything and want to exclude the third one (me) a beneficiary?
This is not really to do with a property purchase Kim, you should seek qualified legal advice. Executors are required to act in the best interests of the beneficiaries. If you don't believe they are doing so you are free to go to court and seek a ruling and/or possible compensation for financial losses.
Can you have a Deed of Variation on a freehold?
Sort of. It is possible for a house to be both a Freehold and a Leasehold which makes it possible to have a deed of variation on the Leasehold. I'd need to know more about your situation to understand better what you are asking about.
who is the guarantor in a deed of variation?
Sorry Alex - missed this. A deed of variation is basically like something being added to a contract. If there is a dispute later about the deed of variation the matter would be dealt with by a judge in a court who would look to interpret what both you and the freeholder were trying to achieve when creating the deed of variation.
Does this book include examples of/templates for deeds of variation? For example, if thr freeholder has agreed, ans we don't want to involve a solicitor, does the book advise on creating this form and filling out the AP1 to accompany it so we can submit to the register ourselves?