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The tenancy agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels. In addition to the basics of a rental (who, what, when, how much), a real estate rental may go into much more detail on these and other issues.
The assured shorthold tenancy (AST) is the default legal category of residential tenancy in England and Wales.It is a form of assured tenancy with limited security of tenure, which was introduced by the Housing Act 1988 [n 1] and saw an important default provision and a widening of its definition made by the Housing Act 1996.
Security of tenure exists for business tenancies under the Landlord and Tenant Act 1954 (2 & 3 Eliz. 2. c. 56). It was abolished for most residential properties by the Housing Act 1988 (c. 50). However, it remains for some people who live in council houses. Protection from Eviction Act 1977 (c. 43) Assured tenancy; Assured shorthold tenancy
In England and Wales, a section 21 notice, also known as a section 21 notice of possession or a section 21 eviction, is a notice under section 21 of the Housing Act 1988, [1] that a landlord must give to their tenant to begin the process to take possession of a property let on an assured shorthold tenancy without providing a reason for wishing to take possession.
The 1954 act was amended by the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 (SI 2003/3096), which was made on 1 December 2003 and came into effect on 1 June 2004. [5] This order was adopted under the UK's regulatory reform agenda, which aimed at removing legislative burdens on businesses.
The reason for the introduction of the Act was not as might be assumed to help the existing private residential landlords who were in 1985 obliged by law to have regulated tenancies; their regulated tenancies gave all tenants a tenancy for life that they could pass onto other occupants in the home when they died, rents were set typically 50% of market value, they could not be re-mortgaged ...
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