Section 215 — Property Law Act 2007: Sublease for same or longer term as term of superior lease

215 Sublease for same or longer term as term of superior lease (1) This section applies to a sublease under a lease (the superior lease ) if the sublease is entered into, or purportedly entered into,— (a) by a lessee under the superior lease; and (b) for a term that will expire at the same time as, or later than, the time at which the term of the superior lease expires. (2) A sublease to which this section applies does not, unless a contrary intention appears, operate as an assignment of the superior lease to the sublessee. (3) If the term of a sublease to which this section applies will expire later than the expiry of the term of the superior lease,— (a) the term of the sublease is reduced and will expire at the same time as the term of the superior lease; and (b) the sublease cannot be registered under the Land Transfer Act 1952 but is to be treated for all purposes as creating an equitable estate in the land. (4) Subsection (3) does not affect any remedy that the sublessee may have for the reduction, in accordance with that subsection, of the term of the sublease. (5) If the term of the superior lease is extended or renewed, the term of the sublease is extended and will expire at the earlier of the time that— (a) the term of the extended or renewed superior lease is expressed to expire; or (b) the term of the sublease is expressed to expire. (6) Although the term of a sublease to which this section applies (as expressed, reduced, or extended by this section) expires at the same time as the term of the superior lease, the sublessor must be treated as having a reversion expectant on the sublease.