Renewal Of Lease
Legal definition for Indian law research
Definition
Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310.
Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.
As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.
By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the lease or the trusts, powers, limitations, rights and equities or defects in title affecting the original term. The long term may be terminated by ten days' previous notice at any date on which the original lease would have expired, apart from renewal. Every assignment or devolution of the term is to be registered with the lessor, his solicitor, or agent, within six months at a fee of a guinea in substitution for similar covenants (if any) in the lease, and a further covenant for production of the lease and proof of right of renewal to the lessor, etc., and endorsement by the latter of notice of such production, is also implied in a lease before the 1st January, 1927. Disputes as to notices to quit or right to renewal and other matters are referred to the Minister of Agriculture, and fines payable upon renewal have been converted into annual rents. The only substantial change in rights is that the liability for rent and breach of covenant attaches to the tenant only for so long as he holds the term, even though he may be the original lessee. Long leases or leases with perpetual right of renewal, taking effect as a demise for 2,000 years, may be granted, but any contract to renew an existing lease for a term exceeding sixty years from the termination of the original lease is void, and apparently this contract cannot be entered into until less than twenty-one years of the existing term is unexpired [see s. 149(3), (English) Law of Property Act, 1925]. Corresponding provisions are made in regard to subleases with perpetual right of renewal. A comprehensive code on this subject is provided in the (English) L.P. Act, 1922, 15th Sch. Copyholds held with a perpetual right of renewal are converted into enfranchised freehold by s. 135 of the L.P. Act, 1925, and see the 12th Sch., ibid. Subleases with perpetual right of renewal, become leases for 2,000 years under the provisions of s. 145. [(English) Law of Property Act, 1922 and 15th Sch. (1)]
By s. 44 of the (English) Small Holdings and Allotments Act, 1908 (see SMALL HOLDINGS), a local authority which has compulsorily hired land for the purposes of the Act can obtain a compulsory renewal of the lease, and see the (English) Landlord and Tenant Act, 1927, for renewal of leases by way of compensation for improvements and increase in value due to goodwill. See, generally, Woodfall, L.&T.
Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.
As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.
By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the lease or the trusts, powers, limitations, rights and equities or defects in title affecting the original term. The long term may be terminated by ten days' previous notice at any date on which the original lease would have expired, apart from renewal. Every assignment or devolution of the term is to be registered with the lessor, his solicitor, or agent, within six months at a fee of a guinea in substitution for similar covenants (if any) in the lease, and a further covenant for production of the lease and proof of right of renewal to the lessor, etc., and endorsement by the latter of notice of such production, is also implied in a lease before the 1st January, 1927. Disputes as to notices to quit or right to renewal and other matters are referred to the Minister of Agriculture, and fines payable upon renewal have been converted into annual rents. The only substantial change in rights is that the liability for rent and breach of covenant attaches to the tenant only for so long as he holds the term, even though he may be the original lessee. Long leases or leases with perpetual right of renewal, taking effect as a demise for 2,000 years, may be granted, but any contract to renew an existing lease for a term exceeding sixty years from the termination of the original lease is void, and apparently this contract cannot be entered into until less than twenty-one years of the existing term is unexpired [see s. 149(3), (English) Law of Property Act, 1925]. Corresponding provisions are made in regard to subleases with perpetual right of renewal. A comprehensive code on this subject is provided in the (English) L.P. Act, 1922, 15th Sch. Copyholds held with a perpetual right of renewal are converted into enfranchised freehold by s. 135 of the L.P. Act, 1925, and see the 12th Sch., ibid. Subleases with perpetual right of renewal, become leases for 2,000 years under the provisions of s. 145. [(English) Law of Property Act, 1922 and 15th Sch. (1)]
By s. 44 of the (English) Small Holdings and Allotments Act, 1908 (see SMALL HOLDINGS), a local authority which has compulsorily hired land for the purposes of the Act can obtain a compulsory renewal of the lease, and see the (English) Landlord and Tenant Act, 1927, for renewal of leases by way of compensation for improvements and increase in value due to goodwill. See, generally, Woodfall, L.&T.
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.