What is a contracted out lease?

It is very common for commercial leases to be contracted out of the security of tenure provisions set out on the Landlord and Tenant Act 1954. In broad terms, this piece of legislation provides a tenant with an automatic right to renew an existing lease save where the landlord can satisfy certain grounds for refusing the renewal. By excluding a tenant’s right under this legislation it does not in any way hinder the right of the tenant to request a renewal of the lease or bar the parties from negotiating terms for a renewal at the appropriate time. The legislation sets out a strict procedure to deal with the exclusion and your solicitor will be able to guide you through this.

by admin
Monday 14th of December 2015 02:52:15 PM