PART 8 PART 8 LEASES
42. Lease of real property(1) Real property may be leased in the Abu Dhabi Global Market for up to 99 years and the term of any such lease may be renewed or extended on one or more occasions and for such period or periods of time as the lessor and the lessee may agree in the lease, provided that in no event shall the aggregate term of any lease (inclusive of all such renewals or extensions) exceed 198 years.(2) A lease may comprise one or more lots or parts of lots.
43. Obligation to register lease(1) A lessor shall, within 28 days of the date on which the lease is entered into, notify the Registrar of the identity of the lessee and provide any other details the Registrar requires.(2) A lessor complies with subsection (1) if the lease is lodged for registration, in approved form, within 28 days of the date on which the lease was signed by all parties to it.
44. Requirements for lease to be registered
In order to be registered, a lease shall include a description sufficient to identify each lot or part lot to be leased, the lessor, the lessee, the term (including any renewals), the commencement date, and any applicable option to renew, purchase, or expand, such as rights of first offer or refusal. A memorandum of lease may be registered in lieu of a complete lease provided that it includes all of the elements listed in the previous sentence. Any lease or memorandum thereof which includes such elements shall be deemed to be an approved form of lease for purposes of the registration thereof.
45. Variation of registered lease(1) A registered lease may be varied by registering an instrument of variation of the lease.(2) However, the instrument of variation shall not —(a) add or remove a party to the lease; or(b) be lodged after the term of the lease (including as extended by any option to renew) has expired.(3) A lease as varied by registration of an instrument of variation continues in force according to its terms and is not surrendered by virtue of the variation.(4) This section does not limit other ways in which a lease may be varied. If a lease is varied by other means, the Registrar may register variation in the folio on application by either lessor or lessee and supported by any evidence the Registrar may require.
46. Expiry or termination of lease
The Registrar may register in the folio that a registered lease has expired and shall do so upon the request of the lessor or lessee accompanied by evidence of such expiration acceptable to the Registrar.
47. Termination of lease following lessee's default(1) The registering of the termination of a lease does not release the lessee from liability for breach of a covenant, either express or implied, in the lease.(2) After the termination of a registered lease containing an option to renew or purchase —(a) the Registrar need not enquire whether the option has been exercised; and(b) a person dealing with the lessor need not enquire whether any unregistered interest has been created in exercise of the option.
48. Surrendering a lease(1) A registered lease may be wholly or partly surrendered by registering a surrender of the lease or a variation evidencing a partial surrender executed by the lessor and the lessee.(2) On registration of the surrender —(a) the lessee's interest vests in the lessor; and(b) any sublease is to be taken to be a direct lease from the lessor if either (i) a non-disturbance instrument in approved form, if applicable, has been registered as to such sublease or (ii) the sublessee has agreed to attorn to the lessor as the lessor's direct tenant, and the lessor has agreed to accept such attornment. The Registrar may submit the matter to determination by the Court in the event of any uncertainty.(3) This section does not limit other means by which a lease may be surrendered. If a registered lease is surrendered by other means, the Registrar may register the surrender in the folio on application by either lessor or lessee and supported by any evidence the Registrar may require.
49. Relief from forfeiture(1) Nothing contained in these Regulations prevents a lessee from approaching the Court to seek relief against forfeiture of a lease, whether for alleged non-payment of rent or for alleged breach of any other term of the lease. The Court may suspend forfeiture pending judicial determination or grant other relief against forfeiture on terms that the Court considers appropriate, or may refuse relief.