Clarkslegal LLP London Reading Contact T: 0118 958 5321 F: 0118 960 4611 E: contact@clarkslegal.com Websites www.clarkslegal.com www.employmentbuddy.com Dated 201[ ] (1) (2) (3) Deed of surrender relating to [ ]
This deed is dated 201[ ] Landlord's title number: Tenant's title number: Parties (1) (2) ( Landlord ). ( Tenant ). (3) [ ( Tenant's Guarantor ).] Background (A) (B) (C) (D) This deed is supplemental to the Lease and the parties have agreed to enter into it. The Landlord [is now/continues to be] entitled to the immediate reversion to the Lease. The residue of the term granted by the Lease [is now/continues to be] vested in the Tenant. [The Tenant's Guarantor guarantees the tenant covenants of the Lease.] Agreed terms 1. Interpretation The following definitions and rules of interpretation apply in this deed. 1.1 Definitions: Rent the annual rent reserved by the Lease; Landlord's Lawyer [ ] Lease a lease of [ ] dated [ ] and made between [ ], and all documents supplemental or collateral thereto; Property [ ] as more particularly described in and demised by the Lease; [VAT value added tax chargeable under the Value Added Tax Act 1994 or any similar tax in addition or replacing the same.] 1.2 Clause headings shall not affect the interpretation of this deed. 1.3 A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality) 1.4 Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
1.5 Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders. 1.6 A reference to any party shall include that party's personal representatives, successors and permitted assigns. 1.7 A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time. 1.8 A reference to a statute or statutory provision shall include all subordinate legislation made from time to time under that statute or statutory provision. 1.9 A reference to writing or written includes fax but not email. 1.10 A reference to a document is a reference to that document as varied or novated (in each case, other than in breach of the provisions of this deed) at any time. 1.11 References to clauses are to the clauses of this deed. 1.12 References to the Landlord include a reference to the person entitled for the time being to the immediate reversion to the Lease. 1.13 The expressions landlord covenant and tenant covenant each have the meanings given to them by the Landlord and Tenant (Covenants) Act 1995. 2. Surrender 2.1 In consideration of: 2.1.1 [ [ ] (excluding VAT) paid by the Landlord to the Tenant (of which the Tenant acknowledges receipt) and;] 2.1.2 [ [ ] (excluding VAT) paid by the Tenant to the Landlord (of which the Landlord acknowledges receipt) and;] 2.1.3 the release[s] pursuant to clause 5 [and clause 6]; the Tenant surrenders and yields up to the Landlord, with full title guarantee, all its estate, interest and rights in the Property and the Landlord accepts the surrender. 2.2 The residue of the term of years granted by the Lease shall merge and be extinguished in the reversion immediately expectant on the termination of the Lease. 3. Value added tax Where applicable any VAT shall be payable on the sums contained in this deed subject to the relevant party having provided the other with a valid VAT invoice. 4. [Repayment The Landlord agrees to reimburse the Tenant, as soon as reasonable practicable, for any amount of Rent paid in advance and for any VAT paid in respect of such Rent attributable to any period after completion of this deed.] 5. Release of the Tenant
The Landlord releases the Tenant from all the tenant covenants of the Lease but without prejudice to any liability that has accrued before completion of this deed. 6. [Release of the Tenant's Guarantor The Landlord releases the Tenant's Guarantor from all relevant covenants, and other obligations arising under or in respect of the Lease but without prejudice to any liability under that guarantee or those obligations (if any) that has accrued before completion of this deed.] 7. Release of the Landlord The Tenant releases the Landlord and its predecessors in title from all the landlord covenants of the Lease and from all liability for any subsisting breach of any of them. 8. [Compensation On completion of this deed, the Tenant shall pay the Landlord the sum of [ ] by way of liquidated damages, as compensation for [the breach by the Tenant of its covenants in the Lease relating to the state and condition of the Property] [and [ ]] [in full and final settlement of those obligations]. 9. HM Land Registry requirements 9.1 On the date of this deed, the Tenant shall deliver to the Landlord, or to the Landlord's Lawyer the Lease and the original part of this deed. 9.2 The Tenant shall, within five working days of any written request from the Landlord, supply the Landlord with all further documents and information required in connection with any requisition raised by HM Land Registry in relation to any applications the Landlord makes in relation to this Deed. 10. Joint and several liability Where the Landlord or the Tenant is more than one person, those persons shall in each case be jointly and severally liable for their respective obligations and liabilities arising under this deed. The Landlord may take action against, or release or compromise the liability of, or grant any time or other indulgence to, any one of the persons comprising the Tenant without affecting the liability of any other of them. 11. Third Party Rights A person who is not a party to this deed shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this deed. In witness this document has been signed as a deed and delivered on the date first above written.
Where Landlord is a company Executed as a deed by the Landlord acting by: Director Director/Secretary Where Landlord is an individual Signed as a deed by the Landlord in the presence of: SIGNATURE OF WITNESS WITNESS NAME... ADDRESS Where Tenant is a company Executed as a deed by the Tenant acting by: Director Director/Secretary Where Tenant is an individual Signed as a deed by the Tenant in the presence of: SIGNATURE OF WITNESS WITNESS NAME ADDRESS Where Guarantor is a company Executed as a deed by the Landlord acting by: Director Director/Secretary
Where Guarantor is an individual Signed as a deed by the Landlord in the presence of: SIGNATURE OF WITNESS WITNESS NAME ADDRESS Simply Business have teamed up with Clarkslegal LLP to bring you a free, customisable legal document. Simply Business are one of the UK's biggest small business and landlord insurance providers, insuring over 400,000 self-employed people and landlords. Because this is a template document, it hasn t been drafted to meet your individual requirements and it doesn t constitute legal advice from Clarkslegal LLP to you. As well as filling in the obvious gaps (e.g. relevant names and dates), so that you can personalise it for your own use, you might also want to make your own changes to it. Depending on your particular circumstances, it might not contain everything that you need. If you do decide to adapt it in any way, the changes you make are your sole responsibility. Whilst this document isn t intended to replace the personalised, professional advice you can receive from a solicitor, if you have any questions about it and/or would like legal advice in relation to matters covered by this template document, Clarkslegal LLP can of course help you. All you need to do is get in touch and Clarkslegal LLP will talk you through your options on how to get the right legal advice and ensure the document is fully tailored to fit your own requirements. As you d expect with template materials and general guidance from any similar source, Clarkslegal LLP don t accept responsibility for any action you might take in relation to documentation provided on this website. (Clarkslegal LLP are also obliged to point out that, to the fullest extent permitted by law and except in respect of death or personal injury arising from our negligence, Clarkslegal LLP exclude liability for any claims, loss, demands or damages of any kind whatsoever with respect to this document including, without limitation, direct, indirect, incidental or consequential loss or damages, whether arising from loss of profits, loss of revenue, loss of data, loss of use, loss of reputation, loss of goodwill or otherwise and whether or not the possibility of such loss has been notified to us.)