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What is a Deed of Variation Plan?
A deed of Variation plan is essentially in Layman terms an update of the original Land Registry Plan , It is advisable to obtain a Deed of Variation Plan if you have carried out any physical changed to the leasehold as you will experience problems later on down the line when you come to sell the leasehold.
Occasions When You May need a Deed of Variation Plan
The Variation of Deed plan is essentially an update, as and when the demise has been changed
There are a number of reasons why you might need to obtain a Deed of Variation plan, but the most prevalent are:
An extension has been added to the property
A new room has been included in the roof space or basement
Out buildings have been demolished or built
Why Do I Need Another Lease Plan if I Already Have One?
The deed of variation will include an updated and amended Land Registry Compliant plan which will be registered at Land Registry in digital format.
What Happens If I Don’t Have a Deed of Variation Compliant plan?
If you do not have an updated Deed of Variation Plan, this will be bought up if selling the property or any other trigger point and could hold up any sale until a new update has been produced, this could add weeks if not months onto the sale causing significant cost to the Seller.
Why can’t I use estate agents marketing plans?
Estate agents plans are used for marketing purposes only, they are not generally drawn to scale nor very accurate, and do not have the features that will enable them to be Land Registry compliant.