expiry

Question 1

What is expiry

Answer 1

The normal method of termination in respect of fixed term leases. They terminate automatically on the expiry of the agreed term. In this case there is no requirement that either party serve notice.

Question 2

When can It be brought to an end early

Answer 2

• Fixed term leases may expire with notice if a break clause was agreed upon, which will allow the lease to be brought to an end early. Either party may then bring the lease to an end.

Question 3

Period over 21 years

Answer 3

• If the period of the lease was greater than 21 years, a lease may be converted into a fee simple estate on payment.