71Surrendering lease

71 Surrendering lease (1) A registered lease may be wholly or partly surrendered by operation of law or by registering an instrument of surrender of the lease executed by the lessor and the lessee. (2) However, a registered lease may be surrendered by registering an instrument of surrender only with the consent of every registered mortgagee and registered sublessee of the lessee. (2A) In addition, if a registered lease (the surrendered lease) has been wholly or partly surrendered by operation of law, the Registrar-General may register an instrument evidencing the surrender if satisfied every registered mortgagee and registered sublessee of the lessee under the surrendered lease has been given written notice of the surrender.

Land Title Act 2000 50 (3) If an instrument of surrender is lodged, the Registrar-General must: (a) register the instrument; and (b) record the date of surrender specified in the instrument in the (4) The interest of the lessee in a registered lease vests in the lessor on registering the instrument of surrender. (5) The Registrar-General may make an entry in the land register of the surrender of a lease on receiving an application in the prescribed form from the lessor and the lessor producing any evidence that the Registrar-General may require that the lessee has abandoned his or her occupation of the land comprised in the lease. (6) This section does not apply to a surrender or disclaimer under a law about bankruptcy.