Lease extensions and variations are much more involved than ordinary conveyances as these Deeds need to be relevant for the whole of the term. Legislation constantly changes for Leases and although the partners need to keep abreast of any new rules and regulations regarding conveyancing, in the case of a Lease extension or Deed of Variation particular attention needs to be paid to these changes. Having said that and without wishing to cause any concern, the fee earners are well versed in dealing with Lease extensions and Deeds of Variation. They have a trained eye to know what to look for in order to protect the clients interests and ensure that the new Lease conforms to current legislation and meets with the requirements of the clients.
What usually happens is that a draft Deed is prepared for approval or amendment by all parties. Once the terms are agreed with both the landlords and the client then engrossed copies of the Deeds are executed, monies paid over and completion is deemed to have taken place.
The Deed will then be registered at the Land Registry and once this has been completed the client will be notified.