Leases Flashcards
How can the context of lease agreements vary?
Lease agreements can vary widely, including residential and business uses, and range in duration from short-term lettings to long leases lasting up to 999 years.
What is the nature of the relationship between landlord and tenant in a lease?
The relationship can be private or social for residential leases and may extend to agricultural use in a business context.
How are leases described in terms of their legal nature?
Leases have a dual nature; they are both contracts and forms of property rights, described as “hybrid” entities by Lord Browne-Wilkinson.
What rights do leases confer as property?
As property, leases are considered estates in land or “terms of years” and can be transferred or protected against trespass.
What is the distinction between leases and licences?
a licence can attract a monthly rent and be for a fixed term, but it only allows the licensee to use the property for a specific purpose for a defined, usually short, duration. A lease tends to be for fixed, longer periods of time giving exclusive occupation to a tenant.
Leases have a dual nature, acting as contracts that outline terms of land use and possession, and as property rights that can be transferred or protected against trespass.
What do leases outline as contracts?
As contracts, leases outline terms of possession and use of land between two parties, including numerous leasehold covenants on land usage and management.
Are covenants in leases binding on successors?
Yes, covenants in leases are binding on successors, highlighting the lease’s nature as property.
What regulatory status do leases confer upon tenants?
Leases confer a regulatory status upon tenants, often providing them with statutory protection due to typically lower bargaining power.
What is a lease in property law?
A lease is a mechanism by which a landowner (landlord) allows another party (tenant) to use their land for a specified period, typically in exchange for rent.
What terms are often used interchangeably to describe the interest granted by a lease?
Who is the person enjoying the lease?
Who is the person granting the lease?
What does the concept of reversion represent in a lease?
-Tenancy, lease, term of years, and leasehold estate.
-Tenant, lessee, or leaseholder.
-Landlord, lessor, freeholder, or reversioner.
-The landlord’s residual interest in the property once the lease term expires.
How does Section 205(1)(xxvii) of the LPA 1925 define a “term of years absolute”?
What are the three core requirements of a valid tenancy?
A lease for a fixed period or capable of determination, which may or may not involve the payment of rent.
Exclusive possession, term, and the lease must outline terms of possession and use of land between the landlord and tenant.
Are covenants in leases binding?
do tenants often have statutory protection under leases?
Covenants in leases are binding on successors, highlighting the lease’s nature as property.
Tenants often have statutory protection due to typically lower bargaining power, as seen in legislation like the Rent Act 1977 and Landlord & Tenant Act 1985.
What is the role of rent in a lease agreement?
Rent provides a basis for consideration in the contractual relationship between landlord and tenant, but it’s not an absolute requirement for a lease to exist.
How does exclusive possession distinguish a lease from a licence?
Exclusive possession implies the lessee’s control over the property, to the exclusion of the landlord and third parties, for a specified term, often in exchange for rent, marking a key indicator of a tenancy rather than a licence.
What has been the historical approach of landlords towards statutory tenant protections?
Landlords have historically attempted to circumvent statutory protections for tenants, such as security of tenure and rent control, by framing tenancy agreements as licences.
