Jurisdiction(s):
United Kingdom
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Key definition
Surrender definition

What does Surrender mean? In insurance practice, surrender means the policyholder voluntarily cancels a life assurance or investment‑linked policy before its maturity and receives the surrender value (the cash value calculated under the policy). It commonly applies to endowment assurance and with‑profits policies and is also used for unit‑linked contracts. Usage is broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland. It is primarily a contractual concept rather than a term defined in primary legislation, though regulatory and tax regimes recognise surrender and prescribe consequences. Key features include: a policyholder request; insurer calculation of the surrender value by reference to premiums paid,...

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Deed of surrender of part and lease variation (unregistered lease) with settlement, release and mortgagee/guarantor consents (England and Wales)

Precedents
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Date [ date ]

Parties

  1. [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its Registered office at ] [ address ] (Landlord)
  2. [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant)
  3. [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ]
  4. [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ]

1 Definitions

In this Deed, the expressions below shall bear these meanings:

  • [ 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 • a lease of the Property dated [ date ] entered into between (1) [ the Landlord OR [ name...
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Web page updated on 22/05/2026

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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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