331
In forceEffect of surrender on existing interests
Chapter 6Registration and dealings
Part 4Dealings affecting land
Division 2Surrender
331 Effect of surrender on existing interests
(1)
If a lease or part of a lease is surrendered, other than absolutely, all interests in the lease or part of the lease at the time of surrender continue in the new lease or deed of grant.
(2)
If a lease or freehold land is absolutely surrendered, all interests are extinguished from the day the surrender is registered.
This Act’s bill:Explanatory memorandum
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