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Leases: Cameron Stewart (Thanks To Jim Helman and Shae Mccrystal - Errors Are Mine)
Leases: Cameron Stewart (Thanks To Jim Helman and Shae Mccrystal - Errors Are Mine)
Cameron Stewart
(thanks to Jim Helman and Shae
McCrystal – errors are mine)
3 years
A (lessor) B (tenant)
Reversion Leasehold
5 years
C (lease of reversion)
• During 3 yrs C is the landlord, then for next 2
becomes the tenant
(c) Cameron Stewart 2009
Types of tenancies
• Reversionary leases – a lease of the reversion that
comes into being at a future time
• S 120A(3) CA – cannot be longer than 21 year wait
• The duration of the lease must be obvious from its terms. Usually
the term is expressed in years or sometimes in years and months or
days. The need for a certain term is not a requirement for leases for
life, tenancies at will, tenancies at sufferance or periodic tenancies,
e.g. a tenancy from week to week or month to month.
Provided, however, that in case the demised premises or any part thereof
shall at any time during the continuance of the lease be destroyed or
damaged by fire, flood, lightning, storm, or tempest or shall suffer war
damage so, in any such event as to render the same unfit for the
occupation and use of the lessee, then and so often as the same shall
happen, the rent thereby reserved, or a proportionate part thereof,
according to the nature and extent of the damage sustained shall abate,
and all or any remedies for recovery of the rent or such proportionate part
thereof shall be suspended until the demised premises shall have been
rebuilt or made fit for the occupation and use of the lessee, and in case of
any dispute arising under this proviso the same shall be referred to
arbitration under the provisions of the Commercial Arbitration Act 1984.
TA
ST AST
L and T –privity of contract and estate
Assignment of reversion to R – privity of estate bw R &T
Assignment of lease to A – privity of estate between A and R
Sublease from A to ST – privity of contract and estate bw A and ST and R and A srill have privity of estate
ST assigns sublease – privity of estate bw A and AST