Surrender of registered lease
Surrender of registered lease

The following Property precedent provides comprehensive and up to date legal information covering:

  • Surrender of registered lease

Transfer for a surrender of a lease

Precedent transfer

An adaptable Word version of the precedent form TR1 can be downloaded, saved or printed from the link on this page.

Drafting notes to precedent transfer

Panel 9

Insert into this panel any modifications to the implied covenants for title. See also our precedent clause: Specific clauses for transfers—qualifications to title guarantee and associated drafting notes and Practice Note: Title guarantee and covenants for title.

Panel 11

Definitions — Premium

Note that it is only if the premium is being paid by the Landlord to the Tenant that it will be inserted into panel 8. Any premium being paid by the Tenant to the Landlord is a reverse premium. For the tax considerations and implications of a surrender, see Practice Notes: SDLT—common lease transactions and Direct tax treatment of leases—assignments, surrenders and variations and Checklist: VAT on property transactions—checklist.

Clause 5 — Reimbursement of rent

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