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LTA 1954 changes – surrender |
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The 1 June changes to LTA 1954 are also relevant if T is surrendering (or agreeing to surrender). Under the old regime, an agreement to surrender would be unenforceable unless it was previously authorised by the court. Now, however, we have a regime that is similar to that for contracting out (see above entry).
Thus, L must give advance notice to T warning T that an agreement to surrender a business tenancy is to be made; for his part, T must then fill in a ‘simple declaration’ or a statutory declaration (depending on whether he has 14 days or more notice). L and T must both ensure that the written agreement to surrender has endorsed on it a reference to L’s warning notice, plus a reference to T’s declaration.
Note that this applies to agreements to surrender. Immediate surrender (where T simply gives up possession and vacates) does not have to comply with the above requirements; in effect, the old law remains in force (ie there was never a need for a court order for an immediate surrender).
Full details in Regulatory Reform (Business Tenancies) (England and Wales) Order 2003.
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June 2004 |
