How to vary an existing Deed of Covenant

Verora

Our very small not-for-profit private road management company wants to make amendments to the existing Deed of Covenant that binds property owners to being shareholders in the company, and in turn subject to the Memorandum and Articles of Association. Basically its a means to ensure everyone lives happily together and pays equally towards the maintenance of the road.
The Deed of Covenant though needs to be amended. We'll be voting on this at the AGM and processing it as an ordinary resolution, but we really cannot afford the hundreds of pounds it'll be to have a solicitor draw up the wording of a variation/amendment to the existing deed.
Can anyone advise me where to get information on how to draw up our own variation that amends certain clauses. Something that all existing 14 shareholders can sign that simply removes a sentence and inserts alternative wording? Or is it enough that the shareholders passed the resolution and so the changes are taken as legal?

G_M

Is the wording in a Deed?
Is it in the Mgmt Company Articles?
Both?

If it is really as simple as you say (remove/insert a sentence) it should be straightforward to Execute a Deed yourselves, get all 14 shareholders to sign with a witness to the signing.

Then lodge it with the Land Registry.

I'm not sure about altering the Articles though.

Personally, I'd use a solicitor though. A couple of hundred pounds seems reasonble and is only around £15 each! Well worth it for the peace of mind that it is properly done.

And no, a resolution would not be enough. That would simply authorise you to arrange the amendment to the Deed etc.

DandelionPatrol

You need to consider 2 aspects, namely wording and process.
The wording may be straightforward, but as this is a deed affecting property owners, you should understand that a while resolution may be carried by a simple majority, this is only binding on all property owners in their capacity as shareholders in the management company - ie the management company is expected to implement their side of the deed. It still leaves scope for any individual as a property owner not to sign.

You may wish to consider what happens if a property owner does not wish to sign - and whether it is acceptable to have different properties with different deeds.

Richard_Webster

You need to consider 2 aspects, namely wording and process.
The wording may be straightforward, but as this is a deed affecting property owners, you should understand that a while resolution may be carried by a simple majority, this is only binding on all property owners in their capacity as shareholders in the management company - ie the management company is expected to implement their side of the deed. It still leaves scope for any individual as a property owner not to sign.

You may wish to consider what happens if a property owner does not wish to sign - and whether it is acceptable to have different properties with different deeds.

And how to enforce the altered wording if someone hasn't signed a deed of covenant with the alterations.