Surrender meaning

This Checklist highlights principal actions and considerations for a tenant weighing up surrendering its lease to its landlord. It is not comprehensive, and you should always assess whether further matters arise that require attention in your specific situation, including any fact-specific risks or obligations. This guidance proceeds on the basis that the following apply: the surrender is by express agreement and not effected by operation of law, and no immediate re-grant in favour of the tenant will follow the surrender You can read this Checklist alongside Practice Note: Lease surrenders and Checklist Surrender of lease—acting for the landlord—checklist. How to use this Checklist Although the mechanics of a lease surrender broadly resemble a sale and purchase in commercial terms (the tenant effectively sells and the landlord buys), notable distinctions remain. The opening section (Key issues) identifies the main points for review, with additional explanation provided in the Procedure table below for handling a lease surrender, in more detail for...

This Flowchart sets out the conditions that must be satisfied for the court to declare that a transaction constitutes a preference and grant relief. This diagram outlines the criteria that need to be met for the court to find a transaction is a preference and award appropriate relief...

This Checklist sets out HM Land Registry’s rules for first registration of title on the transfer of a freehold or leasehold estate, the grant of a fresh lease, or the creation of a first legal mortgage. It explains which dealings trigger first registration, the period allowed for registration, the results of failing to apply, and the particulars that must be supplied to HM Land Registry with the application... Which dispositions trigger first registration? The following dealings give rise to compulsory first registration. Transfers of unregistered freehold and leasehold estates The transfer or assignment of: an unregistered freehold estate in land; and an unregistered leasehold estate in land with more than seven years remaining at the date of assignment, whether for valuable or other consideration, by way of gift, or in pursuance of an order of any court. An instrument at a negative value is still treated as being for valuable or other consideration. The assignment or surrender of...

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Rahimi v City of Westminster Council [2024] EWCA Civ 73 What are the practical implications of this case? The Court of Appeal offered valuable clarification on a body of law that has developed incrementally since Victorian times. The court distilled the following core propositions: To establish a surrender by operation of law of a joint tenancy, the party asserting it must prove that all joint tenants and the landlord were party to an arrangement inconsistent with the joint tenancy continuing. Where a tenant gives up possession and, at the tenant’s request or with the tenant’s consent, the landlord grants a fresh tenancy to a third party, that original tenant’s conduct is sufficient to amount to unequivocal behaviour. By contrast, permanently vacating a dwelling and asking for alternative accommodation does not amount to giving up possession; factual occupation is not the same as legal possession. When determining whether a surrender has occurred, the court may look at the whole course of conduct of...

In this issue: Social housing Children's social care Public procurement Governance Education Social care Planning Environmental law and climate change Daily and weekly news alerts New and updated content Latest Q&A Social housing Housing allocation and exclusions—discretion and disability (R (Willott) v Eastbourne BC) A carefully reasoned and intricate Judicial Review judgment addresses the defendant local authority’s decision to exclude the claimant from its housing allocation scheme owing to her record of anti-social behaviour. The ruling scrutinises the scheme’s exclusion provisions, considers whether the authority’s treatment contravened the Equality Act 2010 (EqA 2010), and assesses the extent to which any allocation scheme must preserve a residual discretion. Of broader relevance is the exploration of whether a scheme must contain a clause enabling residual discretion so that a local authority can take exceptional decisions where appropriate. Written by Kevin Long, Solicitor at Hackney Community Law Centre. See News Analysis: Housing allocation and exclusions—discretion...

What is a CVA? A company voluntary arrangement (CVA) is a form of insolvency that permits a company to enter a binding agreement with its creditors to compromise unsecured debts or otherwise agree how its affairs are handled. The directors continue to run the business, under the oversight of an insolvency practitioner. Retailers, particularly those with extensive property portfolios, frequently adopt so‑called ‘landlord CVAs’ to reset rental commitments and shut loss‑making stores. This note outlines how property law and landlord and tenant considerations may emerge under such a CVA. It highlights provisions commonly included in CVAs and explains how they tend to work in practice. Nevertheless, each CVA will vary according to the precise terms proposed. It is therefore vital to examine the CVA proposal carefully to assess its effect on creditors. This note does not provide detailed guidance on the mechanics of approving and implementing a CVA. For Practice Notes addressing the CVA procedure, see: Company voluntary arrangements—an introductory guide The CVA proposal and...

Property Disputes (PD) This beginner’s guide sets out a primer on Property Disputes (PD). It is designed for trainee solicitors and practitioners encountering PD for the first time. The guide highlights the principal issues that commonly arise in PD and signposts other Lexis+® UK sources and materials offering fuller detail on the subjects covered. Newcomers to PD will also benefit from the Overviews within each PD subtopic. These provide a summary of every subtopic, with links to pertinent content inside that subtopic to aid navigation. For instance, see: Property insolvency—overview. The PD module further includes a Property Disputes introductory materials topic, containing links to training materials and “How to guides”, “Quick guides”, plus checklists and flowcharts. The PD module centres on property disputes in England and Wales, while a distinct subtopic focusses on Scottish property disputes (see: Property disputes in Scotland—overview). If a point is not addressed in this guide, use the PD practice area Topics tab or the Topics dropdown menu to explore additional content. This guide also...

This Practice Note examines the enforcement of standard security over heritable property in Scotland. Legal framework The regime governing enforcement of standard securities sits in, and is derived from, Part II of the Conveyancing and Feudal Reform (Scotland) Act 1970 (CFR(S)A 1970). The statutory framework originally set out in the CFR(S)A 1970 has been significantly modified for securities over properties used for residential purposes, principally by the following: Mortgage Rights (Scotland) Act 2001, and Home Owner and Debtor Protection (Scotland) Act 2010 When considering enforcement of any standard security, the reference point is the security instrument itself and, in particular, the operation and application of the ‘Standard Conditions’ contained in CFR(S)A 1970, Sch 3. From an enforcement standpoint, normally the key Standard Conditions to note in practice are: Standard Condition 9—which defines the circumstances in which a debtor is to be treated as being in default, and Standard Condition 10—which describes the creditor’s suite of rights once...

1 Definitions and interpretation 1.1 In this Agreement, and except where the context dictates otherwise, the expressions below shall bear the meanings set out here: Relevant Proportion means, for the purpose of clause, the greatest share of the Company’s [ trading ] losses [ and other amounts eligible for relief from taxation ] that the law permits to be surrendered to the relevant Shareholder (or a member of its Shareholder Group), or, as applicable, the greatest share of the Company’s trading profits against which the Shareholder (or a member of its Shareholder Group) is permitted by law to surrender its [ trading ] losses [ and other amounts eligible for relief from taxation ] ; VAT means United Kingdom value added tax [ and any other tax imposed in substitution for it OR , any other tax imposed in substitution for it and any equivalent or similar tax imposed outside the United Kingdom ] ; 2 Tax matters 2.1 [ The...

This Deed of Release is entered into on [ date ] Parties [ life tenant ] of [ address ] (the Life Tenant); [ trustee ] of [ address ] and [ trustee ] of [ address ] (the Trustees)...

3 Agreement to surrender Summary of the Agreement between the Landlord, Tenant [and Guarantor] dated [date] for the Lease of the [Property or Surrendered Property]. It adopts the Standard Commercial Property Conditions (Third Edition—2018 Revision) with modifications. Key defined terms include Actual Completion Date, Surrender Date, Premium, Rent, Interest and VAT. On the Surrender Date, the Tenant surrenders its interest with [full or limited] title guarantee by executing the Deed of Surrender or Transfer, settling Rent to date, and yielding possession [and keys]. The Landlord accepts by executing the counterpart, taking possession [and paying any agreed Premium/Chattels Price]. Deposits, apportionments and any Rent Deposit follow the Agreement and Standard Conditions. Subject to stated carve-outs, mutual releases apply from the Actual Completion Date; any outstanding Insurance Rent and Service Charge are payable on demand. Completion mechanics, Interest on delay, and any Guarantor’s consent are as set out. Costs, Landlord and Tenant Act 1954 matters, entire agreement, severance, continuation for any Remainder, governing...

Section 17 of the Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) provides that: (1) This provision applies where a person (“the former tenant”) has, as a consequence of an assignment, ceased to be the tenant under a tenancy, but either: namely that (a) in the context of a new tenancy, has, under an authorised guarantee agreement, guaranteed his assignee’s performance of a tenant covenant of that tenancy under which any fixed charge is payable; or (b) in relation to any tenancy, still remains obliged by that covenant under that tenancy, notwithstanding assignment...

Part II of the Landlord and Tenant Act 1954 (LTA 1954) Part II of the LTA 1954 confers security of tenure on business tenants unless its requirements have been contracted out. As a result, a commercial lease does not lapse by effluxion of time; instead it continues as a statutory tenancy until it is brought to an end in accordance with the LTA 1954, or when the court grants a new lease on the application of either the landlord or the tenant, or when the lease is terminated by surrender or by forfeiture under the scheme set out therein in full...

Assignment of a lease The disposal of a lease is ordinarily handled in the same manner as conveying a freehold, and any sum or premium given for the assignment (excluding a reverse premium) falls within the scope of stamp duty land tax (SDLT). However, the incoming tenant’s acceptance of obligations under the lease—such as paying rent or complying with the tenant’s covenants—does not constitute chargeable consideration for SDLT purposes and is disregarded when assessing the tax charge...