Property Law 6 - Lease

Question 1

What is the definition of a lease?

Answer 1

“the grant of a right to the EXCLUSIVE POSSESSION of land for a DETERMINATE TERM LESS THAN that which THE GRANTOR HAS HIMSELF in the land.

Question 2

What are the essential ingredients of a lease?

Answer 2

• Exclusive possession
• If over 3 years requires a deed
• If under 3 years can be in writing or oral
• Fixed term or periodic tenancy
• The reversion (the property reverts to the LL after the lease comes to an end).

Question 3

What is the “term commencement date”?

Answer 3

The date on which the lease term starts

NOTE: the term commencement date can be earlier or later than the lease is dated.

Question 4

What is a commencement date that starts after the lease is dated called?

Answer 4

a reversionary lease

Question 5

If the term of a lease is “from and including” a certain day of the year, when does the term expire?

Answer 5

The day before that day of the year

E.g. a term of 10 years from and including 1 April 2010 would end on 31 March 2020.

Question 6

If the term of a lease is “from “ a certain day of the year, when does the term expire?

Answer 6

The day of that day of the year

E.g. a term of 10 years from 1 April 2010 would start on 2 April 2010 and end on 1 April 2020.

Question 7

If a lease is silent as to whether rent is payable in advance or arrears, which method is used?

Answer 7

Rent will be payable in arrears.