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Land Transfer Act 2017

Dealings in estates and interests in land - Leases

92: Variation of leases

You could also call this:

"Changing the rules or length of a lease"

Illustration for Land Transfer Act 2017

You need to use a lease variation instrument to register changes to a lease. This includes extending the term of the lease or changing the rules and conditions. The instrument must contain the required information. You must register the lease variation instrument before the current lease term ends. The instrument has the same effect as a new lease with the same rules and conditions. Both the lessor and the lessee must sign the instrument. When you register the instrument, the lease remains subject to existing interests. The lease also keeps the benefits of existing interests, with the owner's consent. You cannot use a lease variation instrument to add or remove land from the original lease. The lease variation instrument is used for specific changes, such as extending the term or changing the rules. It is not used for other changes, like adding or removing land. You can find more information by looking at ss 116 and 119.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6731234.

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Part 3Dealings in estates and interests in land
Leases

92Variation of leases

  1. A lease variation instrument must be used in order to register—

  2. an extension of the term of a registered lease; or
    1. a variation of the covenants or conditions contained in a registered lease.

      1. The lease variation instrument must contain the prescribed information.

      2. The lease variation instrument must be registered before the expiry of the current term of the lease.

      3. A lease variation instrument extending the term of a lease has the same effect as if it were a lease instrument for the extended term subject to the same covenants and conditions, with any necessary modifications, as are contained in the lease.

      4. A lease variation instrument must be executed by—

      5. the lessor; and
        1. the lessee.

          1. On registration of the lease variation instrument, the lease—

          2. continues to be subject to the registered or noted interests to which the lease was subject immediately before registration of the lease variation instrument; and
            1. has the benefit of the registered or noted interests—
              1. of which the lease had the benefit immediately before registration of the lease variation instrument; and
                1. that the registered owner of the burdened land consents to continuing to benefit the lease.

                2. A lease variation instrument must not be used to—

                3. add any land or estate or interest in land to the land or estate or interest in land to which the original lease was subject; or
                  1. remove any land or estate or interest in land from the land or estate or interest in land to which the original lease was subject.

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