Jurisdiction(s):
United Kingdom

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Key definition

Leasehold definition

What does Leasehold mean? Leasehold describes a time‑limited right to occupy and use land or buildings under a lease, while the landlord retains the freehold or other reversion. In legal practice it involves a term certain (from short occupational terms to very long leases), exclusive possession, tenant and landlord covenants (including repair and service charges), and the ability to assign, underlet or charge the leasehold title subject to restrictions. A lease can end by expiry, break, surrender or forfeiture. England & Wales and Northern Ireland: “Leasehold estate” is a legal estate known as a term of years absolute (rent is not essential). Leasehold titles are...

Administration: subletting on refused lease assignment; rent as expense; liquidation disclaimer

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Published by a LexisNexis Restructuring & Insolvency expert

Q&As

Can the administrator sublet the property to the purchaser?

An administrator may do whatever is necessary or expedient to manage the company’s affairs, business and property (paragraph 59(1) of Schedule B1 to the Insolvency Act 1986 (IA 1986)), which also encompasses the powers set out in IA 1986, Sch 1. In respect of subletting, IA 1986, Sch 1, para 17 confirms that an administrator has the power to grant or accept the surrender of a lease or tenancy of any company property, and to take a lease or tenancy of any property required or convenient for the company’s business. For further detail, see Practice Note: Roles, powers, functions and duties of an administrator, particularly the section ‘The administrator’s powers’...

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Web page updated on 27/05/2026

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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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