100 Surrender of lease
Act is intended to be surrendered and its surrender is effected
otherwise than through the operation of a surrender in law, the
Registrar shall, on the production to the Registrar of the surrender
in the prescribed form, make a memorandum of the surrender on
the certificate of title in the register.
(2) When the memorandum has been so made, the estate or interest
of the lessee in the land vests in the lessor or in the person in
whom, having regard to intervening circumstances, if any, the land
would have vested if the lease had never been executed.
(3) Notwithstanding subsection (1),
(a) a lessee of a lease that is mortgaged or encumbered shall not
surrender the lease without the consent of the mortgagee or
encumbrancee, and
(b) when a certificate of title has been issued for a leasehold
estate, the Registrar shall not register a surrender of the
lease unless the persons entitled to the benefit of any
instruments or caveats registered against the certificate of
title consent to the surrender.
(4) Where a lease or demise required to be registered under this
Act has been discharged before the term of the lease has expired,
that discharge is deemed to have the same effect as if the lease had
been surrendered.
RSA 1980 cL-5 s103;1985 c48 s2(20);1996 c32 s5(14);
1999 c10 s20