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Moon phases
Deed of Novation
+2
daveiron
janloot
6 posters
Page 1 of 1
Deed of Novation
Good afternoon members
I would like to know what the current thoughts are regarding The Deed of Novation.
I am aware that in the past , this document was always thought to be fundamental in any court case success., but is this still the case?
Also; am I correct in thinking that The Deed of Novation needs to be signed by all three parties??????????????????
On a final note; there seems to always be a clause in any contract stating the rights etc can be passed/sold to a third party - but do we as individuals need to sign an agreement with that 3rd party? (The Deed of Novation signed by all three parties)
regards
I would like to know what the current thoughts are regarding The Deed of Novation.
I am aware that in the past , this document was always thought to be fundamental in any court case success., but is this still the case?
Also; am I correct in thinking that The Deed of Novation needs to be signed by all three parties??????????????????
On a final note; there seems to always be a clause in any contract stating the rights etc can be passed/sold to a third party - but do we as individuals need to sign an agreement with that 3rd party? (The Deed of Novation signed by all three parties)
regards
janloot- Not so newb
- Posts : 82
Join date : 2017-05-16
Re: Deed of Novation
Hi, you may find the answers in this link.
http://www.thelegalstop.co.uk/Business/Novation-Agreement--Changing-a-Party-to-a-Contract.html
http://www.thelegalstop.co.uk/Business/Novation-Agreement--Changing-a-Party-to-a-Contract.html
daveiron- Admin
- Posts : 4899
Join date : 2017-01-17
Re: Deed of Novation
That's correct, Novation needs to be by agreement of all the original parties, and the new party.janloot wrote:Also; am I correct in thinking that The Deed of Novation needs to be signed by all three parties??????????????????
Normally that's the case in the sort of contracts we're concerned with here. But it would still make sense to check for that clause in the agreement that you're actually concerned with.janloot wrote:On a final note; there seems to always be a clause in any contract stating the rights etc can be passed/sold to a third party
If the previous answer is "Yes", then this one is "No". By entering into the original agreement including the clause permitting assignment to third party, you have effectively agreed in advance.janloot wrote:but do we as individuals need to sign an agreement with that 3rd party? (The Deed of Novation signed by all three parties)
flyingfish- dedicated
- Posts : 854
Join date : 2017-03-22
Re: Deed of Novation
Novation needs the signature of all three parties if a debt is assigned by a novation agreement
it is very unlikely that the original creditor assigned the debt by novation in respect of the type of debt which is normally discussed on this forum.
it is very unlikely that the original creditor assigned the debt by novation in respect of the type of debt which is normally discussed on this forum.
waylander62- dedicated
- Posts : 1260
Join date : 2017-10-03
Re: Deed of Novation
Agreed with Waylander62 - never been the case in my experience.
Mrblue2015- Moderator
- Posts : 2468
Join date : 2017-06-11
Re: Deed of Novation
Ref: it is very unlikely that the original creditor assigned the debt by novation in respect of the type of debt which is normally discussed on this forum.
If I contacted the OC; would they have to inform me if the debt was indeed assigned by Novation or other?
If I contacted the OC; would they have to inform me if the debt was indeed assigned by Novation or other?
janloot- Not so newb
- Posts : 82
Join date : 2017-05-16
Re: Deed of Novation
if the request was correctly worded then possibly
they do not like to provide any assignment details either the OC or the DCA will fight very hard to deny access to this information.
i have done many many SAR's and every one has requested a copy of the deed of assignment or novation whichever applies and NEVER has the OC provided either in their response.
they do not like to provide any assignment details either the OC or the DCA will fight very hard to deny access to this information.
i have done many many SAR's and every one has requested a copy of the deed of assignment or novation whichever applies and NEVER has the OC provided either in their response.
waylander62- dedicated
- Posts : 1260
Join date : 2017-10-03
Re: Deed of Novation
waylander62 wrote:i have done many many SAR's and every one has requested a copy of the deed of assignment or novation whichever applies and NEVER has the OC provided either in their response.
Yep, same here...
Mrblue2015- Moderator
- Posts : 2468
Join date : 2017-06-11
Re: Deed of Novation
They circumvent the Deed of Novation by using contract law, in the contractual conditions it gives the lender the power to transfer the alleged debt and the signatory agrees to the conditions when they sign the contract.
assassin- Admin
- Posts : 3551
Join date : 2017-01-28
Location : Wherever I Lay My Head
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