Deed of covenant to be bound by existing overage covenants


Published by a ³ÉÈËÓ°Òô Property expert
Precedents

Deed of covenant to be bound by existing overage covenants


Published by a ³ÉÈËÓ°Òô Property expert

Precedents
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Date [date]

Parties

  1. 1

    [name of Covenantor, ie party giving the covenant] [of OR incorporated in England and Wales(Company registration number [number]) whose Registered office is at] [address] (Covenantor)

  1. 2

    [name of Covenantee, ie party benefiting from the covenant] [of OR incorporated in England and Wales (company registration number [)number] whose registered office is at] [address] (Covenantee)

[Recitals

    1. (A)

      This Deed is supplemental to a deed (the Original Deed) dated [date] made between the (1) Covenantee and (2) [name of relevant party] (the Original Covenantor).

    1. (B)

      By clause [number] of the Original Deed, the Original Covenantor undertook with the Covenantee not to make a Disposal of the Property without procuring that the person in whose favour the Disposal is to be made executes and delivers to the Covenantee a new deed of covenant in the same terms as the Original Deed.

    1. (C)

      The Original Covenantor now wishes to [transfer the freehold interest in the Property OR [details of Disposal]] to the Covenantor.]

    1. 1

      Definitions

      In this Deed, the following definitions apply:

      Disposal

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Deed definition
What does Deed mean?

Deeds are written agreements but differ from contracts in that the limitation period is 12 years and consideration is not required. There are very few categories of transactions that require execution by deed but they are transfers of land, leases, mortgages and charges, sales by mortgagees, appointments of trustees, powers of attorney and gifts.

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