Estate

Millfield Overstrand Ltd: Deeds of Variation

This page deals with Deeds of variation: it has to be remembered that the original Deeds were drawn up in the mid 1960's and the original term of the lease was for 99 years. When Millfield Overstrand Limited was formed in 1985 and purchased the Freehold, Lessees were offered the option to extend the Lease to 999 years by Deed of Variation. Many Lessees took up this option forthwith but others, mostly when properties were sold, did so later. Today, only 3 properties still have the 99 year lease. In the last few years it has become common practice to call for a further Variation to the Lease granting the enforceability of covenants. In consequence we have the situation wherein (a) almost all properties have a 999 year lease and (b) a lesser number also have the Enforcement variation. Currently it is common practice when properties are sold to have the Deeds of Variation updated if the enforceability component has not yet been included.
Below is an example of a recent document embodying both Deeds of Variation.

H M LAND REGISTRY
LAND REGISTRATION ACTS 1925 to 1986
DEED OF VARIATION

COUNTY & DISTRICT	:	WEST SUSSEX ARUN DISTRICT
TITLE NUMBER	:	SXxxxxx
PROPERTY	:	## Overstrand Avenue
DATE	:	01/01/2002
THE LESSOR	:	MILLFIELD OVERSTRAND LIMITED whose registered office is situate at 41a Beach Road Littlehampton in the County of West Sussex
THE LESSEE	:	Xxxxx Xxxxxx of ## Overstrand Avenue Rustington West Sussex
PRICE	:	£5,000.00

This Deed is supplemental to the Lessee's Lease of the property of which the Lessee is the registered Proprietor with good Leasehold Title under the LeasehoId Title number SX ##### appearing in the Charges Register of the above mentioned title of which the Lessor is the registered Proprietor

1. IN CONSIDERATION OF the price the Lessor and the Lessee HEREBY JOINTLY AGREE AND DECLARE that the Lease shall be and are hereby varied in that:-

1. The term of years granted by the Lease shall be deemed extended to and the Lessor HEREBY DEMISES to the Lessee the property for a term of 999 years 29th September 1983 at an annual rent of a peppercorn (if demanded) payable on 29th September in each year and
2. there shall be included in the Lease as a separate covenant on the part of the Lessor the following clause:-
   "that the Landlord will at the written request of the Tenant or Mortgagees of the Tenant enforce by all means available to the Landlord at the entire cost of the Tenant the covenants entered into by the tenants of the other buildings comprised in the Estate provided that:-

1. the LandIord shall not be required to take any action or incur any costs under this clause until such security as the Landlord in the Landlord's absolute discretion may require shall have been given by the Tenant or the Tenant's Mortgagees requesting action
2. the Landlord may in the Landlord's absolute discretion require the tenant or the persons requesting such action at their expense to obtain for the Landlord from Counsel to be nominated by the Landlord advice in writing as to the merits of the contemplated action in respect of the allegation made and in that event the Landlord shall not be bound to take action unless Counsel advises that such action should be taken and that it is likely to succeed and
3. the Tenant shall indemnify the Landlord against all costs and expenses incurred by the Landlord arising out of this clause"

1. AS varied as aforesaid the Lease and every clause thereof shall continue in full effect and be binding on the parties and the proviso for forfeiture on non-payment of rent or breach of covenant appearing in the Lease shall apply to the extended term hereby created as rectified herein
2. IT IS HEREBY CERTIFIED that the transaction hereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value of the aggregate amount or value of the consideration (other than rent) exceeds £60,000.00
3. WE HEREBY CERTIFY that there is no agreement for lease to which the lease gives effect.