Deed of Mutual Covenant (Flying Freehold)

The legal template "Deed of Mutual Covenant (Flying Freehold) under UK law" is a legally binding agreement between two or more parties involved in a property ownership arrangement known as a "flying freehold" in the United Kingdom.

A flying freehold refers to a unique situation where a portion of one property is built or extends over another property, creating overlapping spaces or shared structures between the two. This can commonly occur in buildings such as apartments or terraced houses.

The purpose of this legal template is to establish specific terms and conditions that govern the relationship and responsibilities of the parties involved in the flying freehold arrangement. It will outline the respective rights, obligations, and restrictions applicable to both the owner of the flying freehold (the building or extension owner) and the owner of the underlying property (the property beneath the flying freehold).

The Deed of Mutual Covenant serves to ensure a harmonious coexistence, as well as the proper maintenance, use, and enjoyment of the shared areas or structures. It may cover various important aspects, such as:

1. Boundaries and Shared Spaces: Clearly defining the boundaries between the flying freehold and the underlying property, as well as identifying and specifying shared spaces, walls, roofs, common entrances or exits, and any other shared facilities or amenities.

2. Maintenance and Repairs: Establishing the responsibilities for repairs, renovations, and maintenance of the shared areas. It may outline how costs will be apportioned, including details on regular contributions to a sinking fund or reserve fund for such purposes.

3. Alterations and Changes: Providing guidelines and procedures for making alterations or modifications to the flying freehold or the shared spaces, including ensuring that adequate permissions or approvals are obtained.

4. Access and Rights of Way: Addressing any rights of access, easements, or rights of way required for maintenance, use, or emergency situations, and clarifying the conditions under which they may be exercised.

5. Dispute Resolution: Prescribing methods for resolving disputes that may arise between the parties, including mediation or arbitration, to prevent the escalation of conflicts and facilitate amicable solutions.

As the legal framework for a flying freehold can be quite complex, this template aims to provide a standard document that can be customized according to the specific needs and circumstances of the individual flying freehold arrangement. It ensures that the rights and obligations of each party are clearly defined and legally enforceable, offering clarity and protection to all involved.