Summary
Summary property law
- Module
- Property Law
- Institution
- University Of Winchester (UoW)
Summary of 4 pages for the course Property Law at UoW (leases 1)
[Show more]
Seller
Follow
Content preview
Leases 1Types of Tenancies;
Fixed Term Tenancy
- Many tenancies will take the form of a fixed term tenancy – a tenancy for a defined period of time.
E.g. 1 week, 1 month, 99 years, 999 years
- There MUST be a defined period of time – otherwise, it will be held VOID. - REQUIREMENT
Lace v Chantler [1944]
- A lease ‘for the duration of the war’ was void because it could not have been known at that time exactly how
long the war would last.
What if you have a lease for one year – but you can renew indefinitely? Valid or Void?
- VALID
These are known as ‘periodic’ tenancies
You can continue renewing the lease for an indefinite period of time, however, the first period of time is certain.
We don’t know the total amount of time for which you will be renting, but we know that it will be for at least the time
specified by the first period – e.g. a year.
Lord Templeman in Prudential Assurance Co Ltd. v London Residuary Body [1992]
- “A tenancy from year to year is safe from being uncertain because each party has power by notice to determine
at the end of any year.
- The term continues until determined as if both parties made a new agreement at the end of each year for a new
term for the ensuing year.
What if the start date of the lease is in the future? Valid or Void?
- Possibly Valid but also possibly Void
Also, known as ; ‘Reversionary’ Leases
It is possible to create a lease which will start in the future HOWEVER, there are some limitations to this.
Section 149 (3) LPA 1925:
A term, at a rent or granted in consideration of a fine, limited after the commencement of this Act to take effect more
than twenty-one years from the date of the instrument purporting to create it, shall be void…
If you entered a reversionary lease this year, it would have to commence before 2042, otherwise, it will be considered
VOID.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller vickyhoney. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £7.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67232 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now