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Deed Of Variation For Lease

Deed Of Variation For Lease Template for Australia

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Key Requirements PROMPT example:

Deed Of Variation For Lease

"I need a Deed of Variation For Lease to extend our commercial office lease term by an additional 5 years from March 2025 and increase the annual rent by 10%, with all other terms remaining unchanged."

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Document background
The Deed of Variation For Lease is a crucial document in Australian property law used when parties to an existing lease agreement wish to modify specific terms without creating an entirely new lease. It's commonly utilized when circumstances change during a lease term, such as adjusting rent payments, extending the lease period, or modifying permitted use of the property. This document must comply with state-specific property legislation and may require registration on title in certain jurisdictions. It's essential for maintaining clear records of agreed changes while preserving the integrity of the original lease agreement. The deed typically includes details of the original lease, specific variations agreed upon, and confirmation that unvaried terms remain in force, making it a vital tool for property management and lease administration in Australia.
Suggested Sections

1. Parties: Identifies all parties to the deed, including the landlord and tenant from the original lease

2. Background: Recitals explaining the existence of the original lease, reason for variation, and parties' intention to vary specific terms

3. Definitions: Defines key terms used in the deed, including reference to definitions in the original lease

4. Interpretation: Sets out rules for interpreting the deed and its relationship with the original lease

5. Variation: Details the specific terms of the lease being varied, with clear reference to original clause numbers

6. Confirmation: Confirms that all other terms of the original lease remain unchanged and in full force

7. Costs: Specifies who bears the costs of preparing and executing the deed

8. Governing Law: Specifies that the deed is governed by Australian law

9. Execution: Formal execution blocks for all parties to sign the deed

Optional Sections

1. Consent of Mortgagee: Required if there is a registered mortgage over the property requiring mortgagee consent to lease variations

2. Guarantee Confirmation: Required if the original lease has guarantors who need to confirm their obligations extend to the varied terms

3. Registration: Required if the deed needs to be registered on title, setting out parties' obligations regarding registration

4. GST: Required if the variation affects rent or other payments that have GST implications

5. Condition Precedent: Required if the variations are subject to certain conditions being met first

Suggested Schedules

1. Schedule 1 - Original Lease Details: Summary of key details from the original lease including date, parties, and property description

2. Schedule 2 - Varied Terms: Detailed table showing original terms and their new varied versions in parallel columns

3. Appendix A - Copy of Original Lease: Attached copy of the original lease being varied

4. Appendix B - Plans or Drawings: Required if the variation involves changes to the leased area or property configuration

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Retail

Commercial Property

Industrial

Healthcare

Education

Hospitality

Professional Services

Manufacturing

Warehousing

Agriculture

Relevant Teams

Legal

Property Management

Facilities Management

Asset Management

Operations

Real Estate

Compliance

Administration

Commercial Leasing

Property Services

Relevant Roles

Property Manager

Lease Administrator

Commercial Property Lawyer

Real Estate Manager

Facilities Manager

Asset Manager

Property Portfolio Manager

Legal Counsel

Tenant Representative

Commercial Real Estate Agent

Property Operations Manager

Lease Compliance Officer

Industries
Property Law Act 1958: This Act governs property transactions in Australia and contains provisions relating to the creation, variation and termination of leases.
Real Property Act 1900: Deals with the registration of real property interests, including leases and variations to leases, particularly relevant for properties under the Torrens Title system.
Conveyancing Act 1919: Contains provisions about the execution of deeds and requirements for valid property transactions, including variations to leases.
Retail Leases Act 2003: If the lease relates to retail premises, this Act provides specific requirements for retail lease variations and protections for retail tenants.
Electronic Transactions Act 1999: Relevant if the deed of variation will be executed electronically, providing framework for electronic signatures and documents.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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