✒️ Deed of novation of contract
A deed of novation is a document that is used to transfer all of the rights and obligations under a contract from one party to another. This is typically done when the original party is unable to fulfill their obligations under the contract, and the new party is willing to take on those obligations. The deed of novation must be signed by all parties to the original contract in order for it to be valid.
Note: Working on a legal issue? Try our AI Legal Assistant
Associated business activities
Novate a contract
Novation can be used to transfer, modify, or terminate a contract. It can be helpful when the original contracting parties can't fulfill their obligations, the terms of the contract need to be changed, or the parties involved can't work together anymore.
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs