TRANSFER OF LAND ACT 1893 - SECT 98
TRANSFER OF LAND ACT 1893 - SECT 98
98 . Surrendering leases
(1) A lease made under
this Act may be surrendered and determined as well by operation of law or
under any Ordinance or Statute now or hereafter to be in force relating to
bankrupts and their estates as by the word “Surrendered” with the
date being endorsed upon such lease or on the duplicate thereof (if any) and
signed by the lessee or his transferee and by the lessor or his transferee and
attested by a witness.
(2) The Registrar
shall enter in the Register a memorandum recording the date of such surrender
and may likewise endorse on either or both the lease and the duplicate lease
(if any) a memorandum recording the fact of such entry having been made.
(3) Upon such entry in
the Register the estate and interest of the lessee or his transferee shall
vest in the lessor or in the proprietor for the time being of the reversion
and inheritance in the land immediately expectant on the term.
(4) Production of such
lease or duplicate (if any) bearing such endorsement and memorandum shall be
sufficient evidence that such lease has been legally surrendered.
(5) Despite subsection
(1), no lease subject to a mortgage or charge shall be so surrendered without
the consent in writing of the proprietor thereof.
[Section 98 amended: No. 81 of 1996 s. 145(1); No.
6 of 2003 s. 33; No. 19 of 2010 s. 51.]