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LAND LAW LEASES EXAM WITH COMPLETE SOLUTIONS LATEST UPDATE
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LAND LAW LEASES EXAM WITH COMPLETESOLUTIONS LATEST UPDATE
Introduction to Freehold and Leasehold Estates
What is a freehold estate? how long lasts
A freehold estate lasts for an uncertain duration and grants ownership of land
potentially for eternity.
What is a leasehold estate? how long lasts
A leasehold estate has a fixed or certain duration and is carved out of a freehold estate.
What happens if a freehold owner grants a leasehold estate in terms of 'reversion'
The freehold owner has the reversion (right to have the property revert back to them
when the lease expires).
Freehold and leasehold estates co-exist over the same piece of land.
What types of leases/subleases can the freeholder / tenant grant difference of duration.?
The freeholder can grant a lease for any length.
A tenant can only grant a sublease for a term shorter than his own lease.
3 reasons Why might a freeholder create a lease?
1)To receive rent.
2)To retain an interest that can be sold later.
,3)To impose positive covenants on future leaseholders.
What interest does the freeholder have?
A fee simple absolute in possession (under s 205 LPA 1925) with entitlement to receive
rent or profits in respect of the land without being in occupation.
Legal Status of a Lease
When will a lease be a legal estate in land?
Under s 1(1)(b) LPA 1925, a lease can be a legal estate for a "term of years absolute."
Formalities for Creating a Lease
What are the 2 formality requirements for leases over 3 years?
1)Created by deed (s 52 LPA 1925).
2)Comply with s 1 LPMPA 1989 (signed, witnessed, and states it is a deed).
What are the 4 requirements for leases of 3 years or less (parol leases)?
These can be made orally or by deed if:
1)Lease is for 3 years or less.
, 2)Takes effect in possession.
3)Tenant pays market rent.
4)No fine or premium is charged.
What is an equitable lease, and when does it arise?
An equitable lease arises when:
Legal formalities are not followed, but there is:
(1)A valid contract. under s 2 LPMPA 1989.
(2)Clean hands. equitable remedy available.
Case examples for equitable leases. just read bro
Walsh v Lonsdale (1882): Equitable lease recognized due to a valid contract and
possession by tenant.
Parker v Taswell (1858): A failed deed created an equitable lease since the document
satisfied contract requirements.
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