leasehold 1

Question 1

3 Essential requirements?

Answer 1

Exclusive possession
Fixed ascertainable
Correct formalities

Question 2

Street v Mountford

Answer 2

Granted room licence fee 37p/w which was not assignable but had exclusive possession.
intention to create licence irrelevant and held as lease.

Question 3

What circumstances would not be exclusive possession? (Westminster council v clarke 1992)

Answer 3

Expressed to be personal to MR C (homeless)
Not intended to create EP of any room
Room could changed no notice
No invite of friends
Council could enter at any time
HELD - NO exclusive possession

Question 4

Terms of years absolute - S205(1) LPA 1925

Answer 4

Term of years:
- Less than a year
- One year
- Several years
- Fraction of a year

Question 5

Lace v Chantler (1944) (FIXED PERIOD)

Answer 5

Lease granted for ‘duration of war’ and not held to be legal estate as it was not for a fixed term

Question 6

S52 LPA 1925 (Formalties)

Answer 6

Creation of lease involves creation of leagal estate and must be granted by a deed

Question 7

S53(1)(C) LPA 1925 (Formalities)

Answer 7

Deed must be created in writing and signed by both parties

Question 8

S54(2) LPA 1925 (Formalities grant of lease)

Answer 8

Short leases may be legal as under three years you can have the absence of a deed and at market value

Question 9

What is required for an assignment of lease?

Answer 9

Deed under 52(1) LPA 1925

Question 10

Two ways of equitable leases

Answer 10

1) Parties entered agreement for lease but not gone to grant legal by deed
2) Parties attempted to create legal lease but one or more formalities not complied with

Question 11

Walsh v Lonsdale 1882 (Equitable lease)

Answer 11

Agreed writing to grant by deed for 7 years lease.
T to pay rent in advance
No deed executed
L demanded rent in advance but T refused and L distrained rent
T damages wrongful distress legal not equitable remedy
At law was yrly tenant no obligation to pay advance
Had lease granted by deeed, distress would have been legal remedy
Equity treated parties as legal lease

Question 12

Types of Lease?

Answer 12

Fixed term and Periodic tenancies

Question 13

4 reasons of termination

Answer 13

Surrender
Merger
Forfeiture
Break clause

Question 14

Covenant

Answer 14

Promise contained in deed

Question 15

Covenantor

Answer 15

Person making promise

Question 16

Conenantee

Answer 16

Person who benefits from covenant

Question 17

Positive covenant

Answer 17

Requiring Covenanter to do some act or incur expense

Question 18

Real covenant

Answer 18

Those to do with the land

Question 19

Personal covenant

Answer 19

Purely personal agreements

Question 20

Privity of Contract

Answer 20

Where the parties are in direct contractual relations

Question 21

Privity of Estate

Answer 21

Where tenure exists between parties