Reversionary Leases for Lease Renewals: Avoiding Surrender and Regrant, 21-/60‑Year Rules, LTA 1954 Security, Registration and Drafting—England and Wales

Published by a LexisNexis Property expert

Practice notes

Reversionary leases (also called future leases) commence in possession at a later date.

This Practice Note covers:

when a reversionary lease is used (including to avoid surrender and regrant)
statutory rules on granting reversionary leases (including term and registration)
key transactional and drafting points to consider on granting a reversionary lease

When is a reversionary lease used?

Typically, a reversionary lease is granted to the current tenant rather than to an unrelated third party. In practice, it lets the parties prolong the duration of the tenant’s existing lease while avoiding an accidental surrender and regrant. Most commonly, it records a negotiated lease renewal instead of proceeding under statutory machinery (eg the Landlord and Tenant Act 1954—see LTA 1954 procedure—overview). The grant frequently features within a lease re-gear arrangement (see Practice Note: Lease re-gears—what, when and how?).

Key risk—avoiding surrender and regrant

A reversionary lease should be deployed to prevent an unintended surrender and regrant where the parties wish to lengthen the term of an existing lease. By contrast, varying a lease so as to increase its term will always result...

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Web page updated on 21/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...