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š Mastering Lease Creation in Land Law
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We explore the methods of creating leases under Land law, examining legal and equitable interests, protection mechanisms, and the landmark Walsh and Lonsdale principle that equalizes certain lease agreements.
ā¢ Three ways to create a lease: by deed (legal), under Section 54.2 LPA 1925 (legal), or under Section 2 LPMPA 1989 (equitable)
ā¢ Requirements for a deed: writing, clear deed intention, signature witnessed through attestation, and proper delivery
ā¢ Section 54.2 leases must be for three years or less, take effect in possession, and be at best rent without a fine
ā¢ Four-year written agreements create equitable leases unless executed as deeds
ā¢ Fixed-term leases end at a specific date while periodic tenancies (express or implied) renew automatically
ā¢ Implied periodic tenancies arise when tenants remain after a lease expires and continue paying rent
ā¢ Notices to end periodic tenancies must expire at the end of a payment period
ā¢ Legal leases bind everyone in unregistered land, equitable leases require registration as Class C4 land charges
ā¢ Registered land protection varies by lease type under LRA 2002
ā¢ Walsh and Lonsdale rule: equity treats an agreement for a lease as equivalent to an actual lease between the parties
Join me in our next session where we'll explore the exciting topic of leasehold covenants.
š”āļø Letās learn the law togetherāone session at a time!
Chapters
1. Mastering Lease Creation in Land Law (00:00:00)
2. Introduction to Lease Creation (00:00:10)
3. Creating Leases: Three Methods (00:01:38)
4. Section 54.2 Leases Explained (00:03:27)
5. Fixed-Term and Periodic Tenancies (00:06:30)
6. Protecting Leases: Registration (00:10:20)
7. The Rule in Walsh and Lonsdale (00:14:45)
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