A “surrender” of a lease is the name of the document which is used to terminate a commercial lease by agreement between the landlord and the tenant. For a formal surrender, the document should be executed in the form of a deed as this one is. It may also be used to surrender any other commercial lease.

A lessee accepts from his lessor a new lease of the property leased, to take effect during the continuance of the existing lease. This is an implied surrender of the former lease, and such lease determines thereupon.

Express surrender need not be in writing. No particular words are essential to make a good surrender and a surrender may be oral if accompanied with delivery of possession…. There may be an implied surrender by relinquishment of possession.