Q&As

Would a surrender by a tenant of specific rights in a lease to the owner of the freehold reversion (rather than to the tenant's immediate landlord who would not be party to the deed of surrender) be valid and sufficient to extinguish the rights where such deed of surrender is also expressed to be made for the benefit of the immediate landlord and ensuring that the immediate landlord has a right to enforce the terms of the deed through a third party rights clause?

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Produced in partnership with Christopher Snell of New Square Chambers
Published on: 11 September 2017
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This Q&A considers the effect on the immediate landlord of a deed of Surrender entered into between the Freehold reversioner and the Tenant.

A Lease can be surrendered in, broadly, two ways: either expressly or by operation of law. As for express surrender, section 53(1)(a) of the Law of Property Act 1925 (LPA 1925) requires that it be in writing and where it is a lease operating at law LPA 1925, s 52(1), requires that it be by deed. Conversely, surrender by operation of law depends upon the acts of the parties

Christopher Snell
Christopher Snell

Advice and representation in all areas of commercial and chancery litigation.

Instructed on behalf of both retail and investment banks [including BNY Mellon; HSBC; Royal Bank of Scotland] in relation to a variety of commercial issues.

Retained in relation to a wide range of international disputes; including disputes in the Bahamas; Isle of Man; BVI and Kuwait.

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Jurisdiction(s):
United Kingdom
Key definition:
Surrender definition
What does Surrender mean?

Occurs when an insurance policy is cancelled and the insurance company pays an amount known as the surrender value to the policyholder. It includes for the encashment of a life policy, for example an endowment assurance policy, by the assured, prior to its maturity.

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