Leaseholds - Lecture Flashcards
What Section of LPA 1925 allows equitable leases
s1(3)
What does grant mean?
Creation of a lease
What does assignment mean?
Passing on or selling of a lease
A lease is a proprietary right, true or false?
True
Is a licence a personal or proprietal right?
Personal right
What information must a lease contain? What is the case?
Certain duration
Exclusive possession
ICLR
Street v Mountford
Leases must be made by deed for what period of time?
4 or more years
What legislation must the deed be created in accordance with?
s52 LPA 1925
S1 LP(MP)A 1989
Exception for leases of a certain term of 3 years or less
What is the case which demonstrates that leases must be transferred by deed?
Crago v Julian
Lace v Chandler
Lease for duration of WW2, not certain ter, therefore not lease
Pudential Assurance v LRB
No fixed term as lease till land needed for road widening
What is the word for where rent is rolling and paid at certain intervals?
Periodic term
What is the appriporiate sectino of LPA 1925 which makes exceptinos from the need for a deed for a lease?
s54 (2)
What does s54(2) state?
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
A legal lease for more than 7 years musst be registered, what is the sectino for this?
s27 LRA 2002
Leagal leases for 7 years or less ; no registration but there is an overriding interest, what is the legislation?
Schedule 3 para 1 LRA 2002
Equitable leases arre proprietary rights in land. True or false.
True
When might an equitable lease occur?
Legal lease defective
Grantor only has equitable estate
Parties agree to grant a legal lease in the future
Equitable leases must conform to what section of LP(MP)A 1989
S2
Equitable leases cannot be registered but cn be entered by way of notice, what is the section?
s32; s29 LRA 2002
Can equitable leases create an overriding interest?
Yes
Walsh v Lonsdale
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
Why is it preferable to have a legal lease
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
