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Surrender – an improperly surrendered lease allows buyer to escape sale contract

Overview

In Weir v Area Estates Ltd, Mr Weir successfully bid for a freehold property at auction in January 2008. A lease was noted against the freehold title and also registered under its own title number.

The sale contract stated that the lease had determined by operation of law, and that the buyer was not entitled to raise any requisition in relation to it. The contract also provided for the property to be sold with vacant possession.

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Tags: Real Estate.