Deed of Surrender of Lease

Deed of Surrender of Lease

This deed of surrender of LEASE is made this ……… day of ……… 2000 between AB son of ……………… residing at …………………… (hereinafter called the lessee) of the one part and CD son of ……………… residing at …………… (hereinafter called the LESSOR) of the other part.

Whereas by an indenture dated ………… made between the parties hereto and registered in …………… it was witnessed that the said CD, did in consideration of the rent thereby and thereunder reserved and of the covenants and conditions to be observed and performed on the part of the said AB as therein contained granted and demised by way of LEASE the property fully mentioned and described in the schedule hereto for a term of …………… years

AND WHEREAS such LEASE is in full force and virtue and all rents and conditions reserved by and contained thereunder on the part of the lessee to be paid, observed and performed, have been duly paid, observed and performed by the said AB up to the date of these presents AND WHEREAS the LESSEE was at all material times and is presently in possession of the property since the execution of the lease. AND WHEREAS for personal reasons and consideration the said AB having desired to be relieved from any further payment of such rent and performance of the covenants and conditions approached the said CD for a surrender of the said LEASE and delivery of the possession of the property AND WHEREAS the said CD has agreed to accept from the said AB a surrender of the aforesaid LEASE of the said premises: now this deed witnesses that in pursuance of the said agreement and in consideration of a sum of Rs. …………… being the token consideration paid by the said CD to AB, the said AB as beneficial user of the said property do hereby give up and relinquish all his LEASE-hold estate and interest in and surrender and deliver possession to the said CD of the premises (or, etc.) comprised in and by the said deed of lease TO HOLD the same as before execution of the lease by the said CD to the  INTENT and object that the same shall stand determined to all  intents and purposes and that the residue of the said term of …………… years created by the said deed of lease, and all other rights and interests of the said AB in the said premises (or, etc.) under or by virtue of the said deed shall stand extinguished and merged in the reversion freehold and inheritance of the premises with immediate effect as if the said lease was never granted nor intended.

And this indenture further witnesses that in consideration of the surrender of the LEASE which is accepted by the LESSOR he the said CD doeth hereby realese and discharge the lessee AB, his successor and estate from all claims, demands and liabilities on account of future rent and/or arising out of performance or non-performance of the covenants, conditions provided under the hereinbefore recited Indenture of lease.

The Schedule

In witness whereof the parties hereto have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by

CD the LESSEE in the presence of:

Signed, sealed and delivered by

AB the LESSOR in the presence of:

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