Deed Definition

GLOSSARY

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What does Deed mean?

Deeds are written agreements but differ from contracts in that the limitation period is 12 years and consideration is not required. There are very few categories of transactions that require execution by deed but they are transfers of land, leases, mortgages and charges, sales by mortgagees, appointments of trustees, powers of attorney and gifts.

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Granting unapproved share options pursuant to a standalone share option deed—all-encompassing resource pack

Granting unapproved share options pursuant to a standalone share option deed—all-encompassing resource pack For more general information on unapproved share option schemes, see Practice Note: Unapproved share options. Step Details of step Resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a tax-advantaged share scheme Unapproved share options are often, but certainly not always, used when a company, or the employee, does not qualify to grant or be granted tax-advantaged share options (ie enterprise management incentives (EMI) schemes, company share option plans (CSOPs), save as you earn (SAYE) schemes, and share incentive plans (SIPs)). It is therefore important to first determine whether a tax-advantaged share scheme is possible and appropriate. For further detailed information on the eligibility criteria for the tax-advantaged share schemes, see Practice Notes: When is an EMI scheme appropriate?, How CSOPs work and key features, How SAYE schemes work and key features and What is a SIP?. As early as possible but before step 3 2 Decide...

Individual transfers in DB occupational pension schemes—checklist

Individual transfers in DB occupational pension schemes—checklist Statutory right to cash equivalent • Members of defined benefit occupational pension schemes have a statutory right to transfer the cash equivalent value of their scheme benefits to certain other pension arrangements. • Since 30 November 2021, this statutory right to transfer is subject to the satisfaction of either of two conditions set out in the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021, SI 2021/1237 (Conditions for Transfer Regs). This is to protect members from transfers into fraudulent schemes • The cash equivalent is guaranteed for a period of three months. • The statutory right overrides any conflicting provisions in the scheme's trust deed and rules. • The statutory right applies when a member's pensionable service ends at least one year before normal pension age and the member has accrued rights to benefits under the scheme. • Members who remain in service after pensionable service ends only acquire a statutory right to transfer the cash equivalent of their...

Deeds

Under English law, legally binding agreements can be made orally, in writing or by deed.This Practice Notice considers the circumstances in which a deed is necessary or desirable and the formalities that must be complied with.•What is a deed?•When a deed is required•Formalities (1): in writing•Formalities (2): face value•Formalities (3): execution•Formalities (4): delivery•Escrow•Witnessing•Variation•Failure to comply with formalities and other defectsFor information on the execution of deeds in various jurisdictions outside England and Wales, see Practice Note: Execution of deeds—jurisdictional guide.We have produced a toolkit that is a comprehensive, interactive resource to help users identify and work through the concepts and common issues when executing documents, including the execution of deeds. Each section or phase includes practical guidance, precedent clauses and Q&As relevant to that section. For more information, see: Execution toolkit.What is a deed?Definition and purposeA deed is a written instrument which is executed with the necessary formality and by which an interest, right or property passes or is confirmed, or an obligation binding on some person is created or confirmed.A deed is...

Executing deeds and documents in property transactions—charities

Incorporated v unincorporated charitiesThere are currently a number of incorporated or unincorporated structures that are adopted by charities.The corporate vehicles which can enjoy charitable status are:•a charitable company (which will invariably be a company limited by guarantee)•a co-operative society or community benefit society (previously known as industrial and provident societies)•charity trustees who are incorporated under Part 12 of the Charities Act 2011 (CA 2011)•a charitable incorporated organisation (ie the limited liability form provided by Part 11 of CA 2011), which only needs to be registered with the Charity Commission•a corporate body incorporated by Act of Parliament or by Royal Charter (eg the Official Custodian for Charities)Unincorporated charities will be either:•a charitable trust, or•a charitable unincorporated associationCharitable companyA charitable company can execute contracts, deeds and other documents in the same manner as any other company incorporated under any of the Companies Acts.A contract can be made by a charitable company either by:•using its common seal, or•the signature of any person acting on its behalf with express or implied authorityA charitable company can...

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Execution clause—limited partnership—deed

Option 1—deed executed by an individual general partner in the presence of a witness Executed as a deed by [insert name of limited partnership] acting by [insert name of general partner] in the presence of: .................................................[signature of general partner]General Partner .................................................[signature of witness]

Planning overage—section 106 agreement relaxation of affordable housing requirements

The ScheduleOverage—ascertainment and payment 1 Definitions In this Schedule the following definitions apply: Affordable Housing Unit means: (a) an ['affordable housing unit' OR [as appropriate]] as defined at clause [insert clause number] of the Section 106 Agreement; or (b) any Residential Unit used for the purpose of Affordable Housing; Buyer's Surveyor a chartered surveyor with not less than 15 years' experience in the [residential development OR [as appropriate]] market in the [insert location] area; Current Use Value...

Dive into our 891 Precedents related to Deed

What is the position of a security holder if the company that created the security is dissolved?

What is the position of a security holder if the company that created the security is dissolved? This Q&A focuses on the impact the dissolution of a security provider can have on the ability of a security holder to effectively enforce its security. It also considers the position of a receiver appointed by the security holder prior to the dissolution of the relevant company. Summary If a security provider is dissolved as a matter of English law it is normally still possible for the security holder to enforce the security it holds by exercising the mortgagee’s power of sale. There may be circumstances in any particular case that make an application to restore the dissolved company to the register desirable to protect the security holder’s position. Circumstances where this issue commonly arises The problems associated with a security provider being dissolved while security is in force occur most often in real estate finance and other asset finance transactions. Typically, these issues arise where a special purpose...

Can the name of a minor be changed by an unenrolled change of name deed or is it necessary to use the formal deed poll process?

Can the name of a minor be changed by an unenrolled change of name deed or is it necessary to use the formal deed poll process? Where the parents of a child do not agree on whether a child’s name should be changed, in the absence of a child arrangements order specifying with whom a child is to live, an application to change a child's surname should be made under section 8 of the Children Act 1989 (ChA 1989) for a specific issue order or a prohibited steps order. Pursuant to ChA 1989, s 1(1) the child's welfare is the paramount consideration in such applications. In ChA 1989, s 8 applications the welfare checklist at ChA 1989, s 1(3) is applicable. Where there is a child arrangements order regulating living arrangements in place, applications for change of surname should be made by way of a freestanding application for permission under ChA 1989, s 13(1)(a). For further information about applications to change a child’s name and the factors that the court...

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Timing is everything—Commercial Court takes strict approach to construing contractual time limits (Eronat v CNPC International and another)

Arbitration analysis: In Eronat v CNPC International and another, the parties had agreed to a bespoke contractual provision entitling parties to appeal an award within 30 days from the date at which the arbitral decision was ‘rendered’. This was in contrast to the default position under the LCIA Rules where there is no right to appeal. In construing the word ‘rendered’ very strictly and dismissing an appeal under section 69 of the Arbitration Act, the court found that time started running the date that the award was made, rather than the date the award was notified to the parties. The judgment serves as an important reminder for parties to act promptly when faced with contractual time limits, particularly when they relate to the challenge of arbitral awards. Written by Kirtan Prasad, of counsel, and Jessica Davies, associate, at RPC.

Court enforces adjudicator’s decision relating to liability for historic defects under the Defective Premises Act 1972 (BDW Trading Ltd v Ardmore Construction Ltd)

Construction analysis: The Technology and Construction Court (TCC) enforced an adjudicator’s decision relating to claims under the Defective Premises Act 1972 (DPA 1972) on a site that was completed 20 years prior to the claim being brought. In doing so, it rejected arguments from the defendant contractor around clarity and crystallisation of the claim itself, that the adjudicator had no jurisdiction to decide a claim under the DPA 1972, inequality of arms in terms of documentation and that the adjudicator had failed to consider a defence in relation to an allegation of concealment.

Read the latest 2178 News articles on Deed

44 Execution of documents

(1) Under the law of England and Wales or Northern Ireland a document is executed by a company—(a) by the affixing of its common seal, or(b) by signature in accordance with the following provisions.(2) A document is validly executed by a company if it is signed on behalf of the company—(a) by two authorised signatories, or(b) by a director of the company in the presence of a witness who attests the signature.(3) The following are “authorised signatories” for the purposes of subsection (2)—(a) every director of the company, and(b) in the case

46 Execution of deeds

(1) A document is validly executed by a company as a deed for the purposes of section 1(2)(b) of the Law of Property (Miscellaneous Provisions) Act 1989 (c 34) and for the purposes of the law of Northern Ireland if, and only if—(a) it is duly executed by the company, and(b) it is delivered as a deed.(2) For the purposes of subsection (1)(b) a document is presumed to be delivered upon its being executed, unless a contrary intention is proved.

Deed is referenced 2 in UK Parliament Acts

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GLOSSARY

Deed definition

What does Deed mean?

View the related checklists about Deed

Granting unapproved share options pursuant to a standalone share option deed—all-encompassing resource pack

Individual transfers in DB occupational pension schemes—checklist

View the related practice notes about Deed

Deeds

Executing deeds and documents in property transactions—charities

View the related precedents about Deed

Execution clause—limited partnership—deed

Planning overage—section 106 agreement relaxation of affordable housing requirements

View the related q&as about Deed

What is the position of a security holder if the company that created the security is dissolved?

Can the name of a minor be changed by an unenrolled change of name deed or is it necessary to use the formal deed poll process?

View the related News about Deed

Timing is everything—Commercial Court takes strict approach to construing contractual time limits (Eronat v CNPC International and another)

Court enforces adjudicator’s decision relating to liability for historic defects under the Defective Premises Act 1972 (BDW Trading Ltd v Ardmore Construction Ltd)

View the latest UK Parliament Acts documents on Deed

44 Execution of documents

46 Execution of deeds

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GLOSSARY

Deed definition

What does Deed mean?

View the related checklists about Deed

Granting unapproved share options pursuant to a standalone share option deed—all-encompassing resource pack

Individual transfers in DB occupational pension schemes—checklist

View the related practice notes about Deed

Deeds

Executing deeds and documents in property transactions—charities

View the related precedents about Deed

Execution clause—limited partnership—deed

Planning overage—section 106 agreement relaxation of affordable housing requirements

View the related q&as about Deed

What is the position of a security holder if the company that created the security is dissolved?

Can the name of a minor be changed by an unenrolled change of name deed or is it necessary to use the formal deed poll process?

View the related News about Deed

Timing is everything—Commercial Court takes strict approach to construing contractual time limits (Eronat v CNPC International and another)

Court enforces adjudicator’s decision relating to liability for historic defects under the Defective Premises Act 1972 (BDW Trading Ltd v Ardmore Construction Ltd)

View the latest UK Parliament Acts documents on Deed

44 Execution of documents

46 Execution of deeds

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

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