2. Leasehold Estate Flashcards
Lease created for period exceeding 7 years
Created by deed - LPA 1925, s 52(1); deed must comply with LP(MP)A 1989, s 1
Substantively registered
LRA 2002, s 27(2)(b)(i) - for registered freehold
LRA 2002, s 4(1)(c) - for unregistered freehold
Lace v Chantler
Lease ‘for the duration of the war’ is not valid
Leases exceeding 3, but not exceeding 7, years
Created by deed - LPA 1925, s 52(1); deed must comply with LP(MP)A 1989, s 1
An overriding interest
LRA 2002, Sch 1 para 1 - for first registration of unregistered land
LRA 2002, Sch 3 para 1 - for land where superior title is already registered
Leases not exceeding 3 years
LPA 1925, s 54(2) - no formalities - just needs to take effect in possession and be at best rent
LRA 2002, s 27(2)(a)
If lease has already been registered, assignment must also be registered
LRA 2002, s 4(1)(a) and 4(1)(b)
If lease has not already been registered, but has more than 7 years to run at the date of the assignment, assignment gives rise to a compulsory first registration of the leasehold estate
Any equitable lease coupled with discoverable occupation overrides the register
LRA 2002, Sch 1 para 2 - for first registration of unregistered land
LRA 2002, Sch 3 para 2 - for land where superior title is already registered
Land Charges Act 1972, s 2(4)(iv)
Where freehold land is unregistered, equitable tenant should protect his interest by registering a C(iv) land charge
Walsh v Lonsdale
Where attempt to create legal lease fails and both an equitable lease and a periodic tenancy could arise, the equitable lease prevails