sec.328Surrender of subleases

### sec.328 Surrender of subleases A registered sublease may be wholly or partly surrendered by operation of law or by registering a document of surrender of the sublease executed by the sublessor and the sublessee. If a sublease or part of a sublease is surrendered, the surrender must be registered. However, a document of surrender of a sublease may be registered only if each registered mortgagee and registered sub-sublessee has given written agreement to the surrender. Also, if a registered sublease (the surrendered sublease ) has been wholly or partly surrendered by operation of law, the registrar of titles may register a document evidencing the surrender if satisfied every registered mortgagee and registered sub-sublessee of the sublessee under the surrendered sublease has been given notice of the surrender. If a document of surrender of a sublease is lodged, the registrar of titles may register the document and record the date of surrender stated in the document in the leasehold land register. On registration of a document of surrender of a registered sublease, the interest of the sublessee vests in the sublessor. Subsection (2) does not apply to a surrender or disclaimer under a law about bankruptcy. s 328 amd 2004 No. 4 s 33 ; 2007 No. 19 s 159 ; 2019 No. 7 s 195 ; 2021 No. 12 s 148 sch 3 (sec.328-ssec.1) A registered sublease may be wholly or partly surrendered by operation of law or by registering a document of surrender of the sublease executed by the sublessor and the sublessee. (sec.328-ssec.2) If a sublease or part of a sublease is surrendered, the surrender must be registered. (sec.328-ssec.3) However, a document of surrender of a sublease may be registered only if each registered mortgagee and registered sub-sublessee has given written agreement to the surrender. (sec.328-ssec.4) Also, if a registered sublease (the surrendered sublease ) has been wholly or partly surrendered by operation of law, the registrar of titles may register a document evidencing the surrender if satisfied every registered mortgagee and registered sub-sublessee of the sublessee under the surrendered sublease has been given notice of the surrender. (sec.328-ssec.5) If a document of surrender of a sublease is lodged, the registrar of titles may register the document and record the date of surrender stated in the document in the leasehold land register. (sec.328-ssec.6) On registration of a document of surrender of a registered sublease, the interest of the sublessee vests in the sublessor. (sec.328-ssec.7) Subsection (2) does not apply to a surrender or disclaimer under a law about bankruptcy.