Hello Reader, this time Tabir Hukum will discuss about leasehold estates in property law.
The feudal concepts that we use to describe land ownership are familiar to us is the non-freehold context, where the phrase "landlord and tenant" is still part of everyday vocabulary. The estate that has a limited duration and a definite termination date. while entitled to possession for the duration of the lease, are not seised of their estate. Seisin remains with the owner of the fee simple in reversion. But leaseholders have ownership rights; they own a chattel real. Recall the basis of the distinction between real property and personal property. Because it was the landlord, not the leaseholder, who had seisin, only the landlord could bring a real action demanding that a wrongful possessor give up the property. The leaseholder was limited to an action for damages. Although legislation has long since abolished these restrictions on remedies, we retain the property categorizations and terminology derived from them. The chattel real is an estate in land that is classed as personal property.
There are four kinds of leaseholds : the fixed term, the periodic tenancy, the tenancy at will and the tenancy at sufferance. As we examine each in turn, we will see that the definition of the leasehold as an estate with a definite termination date encompasses considerable variety.
THE FIXED TERM
If O conveys to A for a term of one week, one month, one year, 99 years, or even 999 years, O retains the reversion in fee and A acquires the right to sole possession under a leasehold for a term of years. Unless otherwise provided in the lease, the estate ends automatically on the expiration of the agreed-on term; renewal requires negotiating a new lease to have the rent paid every month. Similarly, in a fixed term tenancy for a period of several years, rent is often paid yearly, and the lease may include provisions for annual increases.
Umpteen posts of tabir hukum about leasehold estates in property law, hopefully the writing of tabir hukum about leasehold estates in property law can be beneficial.
Books : In Writing Tabir Hukum :
Alan M. Sinclair and Margaret E. McCallum, 2005. An Introduction to Real Property Law (Fifth Edition). LexisNexis : Canada.
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| Figure Property Law : Leasehold Estates in Property Law |
