When does a change in the lease become effective ?

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    When does a change in the lease become effective ?

    As can happen, certain things in a lease that was written years ago, does not reflect current conditions / needs.

    If the Directors and all leaseholders agree to change something in the lease ( all above board, to make life easier / clarify things, without removing anyones rights. )

    When does it come into effect ? Legaly.

    1)When the Directors say so, ( Saying we agreed at a meeting, so let it be so )

    2) or when the lease is changed legaly ( going through the LVT / FTT ) and a Deed of variation is ISSUED, and in the hands of all the leaseholders.

    I would assume number 2.

    #2
    In general terms yes under 2. It does depend on how complex the variations are as to whether a DoV is adequate, and if in fact a surrender and regrant is better.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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