Leaseholds - Lecture

Question 1

What Section of LPA 1925 allows equitable leases

Answer 1

s1(3)

Question 2

What does grant mean?

Answer 2

Creation of a lease

Question 3

What does assignment mean?

Answer 3

Passing on or selling of a lease

Question 4

A lease is a proprietary right, true or false?

Answer 4

True

Question 5

Is a licence a personal or proprietal right?

Answer 5

Personal right

Question 6

What information must a lease contain? What is the case?

Answer 6

Certain duration
Exclusive possession
ICLR
Street v Mountford

Question 7

Leases must be made by deed for what period of time?

Answer 7

4 or more years

Question 8

What legislation must the deed be created in accordance with?

Answer 8

s52 LPA 1925
S1 LP(MP)A 1989
Exception for leases of a certain term of 3 years or less

Question 9

What is the case which demonstrates that leases must be transferred by deed?

Answer 9

Crago v Julian

Question 10

Lace v Chandler

Answer 10

Lease for duration of WW2, not certain ter, therefore not lease

Question 11

Pudential Assurance v LRB

Answer 11

No fixed term as lease till land needed for road widening

Question 12

What is the word for where rent is rolling and paid at certain intervals?

Answer 12

Periodic term

Question 13

What is the appriporiate sectino of LPA 1925 which makes exceptinos from the need for a deed for a lease?

Answer 13

s54 (2)

Question 14

What does s54(2) state?

Answer 14

3 years or leass, fixed term, or express periodic or implied periodic
Need not even be in writing in if;
in possession
Best rent
No fine or premium

Question 15

A legal lease for more than 7 years musst be registered, what is the sectino for this?

Answer 15

s27 LRA 2002

Question 16

Leagal leases for 7 years or less ; no registration but there is an overriding interest, what is the legislation?

Answer 16

Schedule 3 para 1 LRA 2002

Question 17

Equitable leases arre proprietary rights in land. True or false.

Answer 17

True

Question 18

When might an equitable lease occur?

Answer 18

Legal lease defective
Grantor only has equitable estate
Parties agree to grant a legal lease in the future

Question 19

Equitable leases must conform to what section of LP(MP)A 1989

Answer 19

S2

Question 20

Equitable leases cannot be registered but cn be entered by way of notice, what is the section?

Answer 20

s32; s29 LRA 2002

Question 21

Can equitable leases create an overriding interest?

Answer 21

Yes

Question 22

Walsh v Lonsdale

Answer 22

Contract for 7 years, future lease never created
In possession and paying rent so unwritten legal lease (periodic)
However also equitable lease of 7 years created when contract for future lease created.
Equity prevails, so equitable lease prevailed

Question 23

Why is it preferable to have a legal lease

Answer 23

Equitable lease only enforceable in equity
Equitable lease less secure (clean hands rule)
Not as enforceable against a 3rd party
Cannot enforce covenants against successors in title pre 1996
Benefit of easement will not pass in a new equitable lease s62 LPA 1925