Lease surrenders

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Lease surrenders guidance:

When LTA 1954 applies on surrender—agreements to surrender Under section 24 of the Landlord and Tenant Act 1954 (LTA 1954), if a lease is not contracted out of LTA 1954,...

Practice Note

Accepting a surrender can be the quickest way for a landlord to regain possession of the premises from an insolvent tenant. It circumvents the extra requirements before...

Practice Note

Basic principle An individual works out the gain or loss when land is disposed of in the same way as for other assets. There are some special rules for working out gains...

Practice Note

The direct tax treatment of landlords and tenants in relation to the grant of leases is considered in Practice Note: Direct tax treatment of leases—grant of a lease. This...

Practice Note

What is a lease surrender? A lease surrender is a mutual agreement between the landlord and the tenant that the lease will determine before the end of the term and in a...

Practice Note

The implied or deemed surrender and re-grant of a lease arises where an agreed variation of the terms of the original lease is so fundamental that the law regards it as...

Practice Note

STOP PRESS: A 12-month pilot scheme where unopposed lease renewals issued in the Central London County Court (CLCC) are transferred to the First-tier Tribunal (FTT)...

Practice Note

STOP PRESS: A 12-month pilot scheme where unopposed lease renewals issued in the Central London County Court (CLCC) are transferred to the First-tier Tribunal (FTT)...

Practice Note

Mortgagee’s consent to grant of lease If a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must...

Practice Note

This Practice Note provides an overview of the stamp duty land tax (SDLT) treatment of the following common lease transactions: • grant of a lease • linked leases •...

Practice Note

A surrender by operation of law occurs when the unequivocal conduct of both parties is inconsistent with the continuation of the tenancy. This is demonstrated by the...

Practice Note

This Practice Note examines the circumstances in which the Transfer of Undertakings (Protection of Employment) Regulations 2006, SI 2006/246 (TUPE 2006) may apply in the...

Practice Note

Express surrender An express surrender results in the lease being absorbed by the reversionary estate, as a result of which the lease determines. An express surrender of...

Practice Note

This Practice Note is about the issues that arise on a transfer of a going concern involving land and buildings. A transfer of a going concern (TOGC) has two distinct...

Practice Note

The general common law principle is that when a lease comes to an end any underlease automatically terminates. Consensual termination—surrender and merger Statute...

Practice Note