Can a business lease be terminated?

Can a business lease be terminated?

Generally a commercial lease is only able to be terminated at the agreed termination date, other than situations like expiry of a ‘no access’ period after an emergency. Once tenants understand their obligations under the lease, the next step is to discuss options with the landlord.

What happens to a lease when a company goes into liquidation?

When a company goes into liquidation, a liquidator can disclaim the lease. This is a unilateral decision by the liquidator to simply hand back the property to the landlord. In addition, the liquidator will send a copy of this notice to the Registrar of Companies and to the Land Registry.

Is the lease termination procedure under the landlord and Tenant Act 1954?

This is a brief overview of the lease termination procedure relevant to business tenancies enjoying security of tenure under Part II of the Landlord and Tenant Act 1954 (the “Act”). It should be read in conjunction with our more general introductory note on the rights enjoyed by business tenants under the Act.

Why do I need a lease termination letter?

Notification of such a kind, beforehand, helps the owner to find a new tenant for the place and guarantees that the business will regain its security deposit. A lease termination letter is often to cancel a business contract between two parties: tenant and landlord.

Can a landlord or tenant terminate a commercial lease?

A tenancy will be protected, and in principle the tenant will have the right to renew their lease on similar terms, if the fixed period of the lease is over 6 months, or if they have occupied the property for over 12 months. How does a landlord terminate a tenancy protected by the 1954 Act?

What happens if a court orders the termination of a lease?

If the court orders the termination of the tenancy on the basis only of grounds (e), (f) or (g), the landlord will also be liable to pay statutory compensation upon the tenant vacating the property.

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