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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guidelines for Drafting a Supplementary Deed Altering Terms of the Lease Deed
A Supplementary Deed is a legal document used to modify or add terms to an existing lease deed, providing flexibility to adapt to changing circumstances without the need for a completely new agreement. It is commonly used in both residential and commercial real estate leases. Here are key considerations when drafting such a deed:
Title and Reference: Clearly label the document as a "Supplementary Deed" and reference the original lease deed by date and parties.
Modification Details: Clearly state the modifications or additions being made to the original lease, including changes in rent, lease term, or any other terms.
Execution: Ensure the supplementary deed is signed and dated by all parties involved, including the lessor and lessee, to make it legally binding.
Consent: Confirm that all parties involved consent to the modifications and understand the implications of the changes.
Effective Date: Specify the effective date of the supplementary deed, which may be different from the original lease deed's commencement date.
Common Mistakes to Avoid:
Inconsistent Language: Ensure the language used in the supplementary deed is consistent with the original lease deed to avoid confusion.
Omission of Terms: Include all modified or additional terms in the supplementary deed to prevent disputes over omitted provisions.
Lack of Legal Review: Consult with an attorney experienced in real estate law to ensure the supplementary deed complies with local laws and regulations.
Late Execution: Promptly execute the supplementary deed after reaching an agreement to avoid potential disputes.
Failure to Notify: Inform all relevant parties about the changes and provide them with copies of the supplementary deed.
Notarization: Depending on local regulations, consider notarizing the supplementary deed to enhance its legal validity.
A well-drafted Supplementary Deed is a useful tool for parties to adapt to changing circumstances during the lease term. By following these guidelines and avoiding common mistakes, parties can modify their lease agreements efficiently while ensuring clarity and compliance with legal requirements.