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(p. 125) 5. Leases 

(p. 125) 5. Leases
(p. 125) 5. Leases

Sandra Clarke

and Sarah Greer

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date: 03 July 2020

This chapter discusses the leasehold estate, or ‘term of years absolute’—more commonly referred to as simply a ‘lease’. It begins by defining the most frequently used terms in this area of law, followed by some examples of leases in practice. It discusses the creation of a lease and explains the essential characteristics of a lease, including whether or not the payment of rent is necessary. It looks at how leases may be ended. It then considers the statutory protection provided by the law for the tenant and discusses tenancy agreements. Next, the chapter discusses some typical leasehold covenants, and considers the assignment and running of leasehold covenants. Finally, it looks at a relatively new development in land law called the commonhold.

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