Land Title Act 1994

A registered lease may be wholly or partly surrendered by operation of law or by registering an instrument of surrender of the lease executed by the lessor and the lessee.

However, a registered lease may be surrendered by registering an instrument of surrender only with the consent of every registered mortgagee and registered sublessee of the lessee.

Also, if a registered lease (the surrendered lease) has been wholly or partly surrendered by operation of law, the registrar may register an instrument evidencing the surrender if satisfied every registered mortgagee and registered sublessee of the lessee under the surrendered lease has been given written notice of the surrender.

If an instrument of surrender of lease is lodged, the registrar may register the instrument and record the date of surrender specified in the instrument in the freehold land register.

On registration of an instrument of surrender of a registered lease, the interest of the lessee vests in the lessor.

This section does not apply to a surrender or disclaimer under a law about bankruptcy.