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Example 4: H has a lease (a real right) in the property. G is the landlord (Owner) of the property. G tries to evict H unlawfully. H can sue G for interference with H's real right of lease. Accordingly, within Scots private law, personal rights belong to the law of obligations whereas real rights fall within the law of property. [9]
In English and Irish law, a fee farm grant is a hybrid type of land ownership typical in cities and towns. The word fee is derived from fief or fiefdom, meaning a feudal landholding, and a fee farm grant is similar to a fee simple in the sense that it gives the grantee the right to hold a freehold estate, the only difference being the payment of an annual rent ("farm" being an archaic word for ...
A caveat does not have the same legal effects as an inhibition of the property, a type of freeze diligence whereby the creditor is prevented, or inhibited, from conveyancing real rights in the property. Instead a caveat does not prevent the owner of the land from granting lesser real rights or transferring ownership in the land.
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. [1] Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property .
The Conveyancing (Scotland) Act abolished casualties in all feus after that date, and power was given to redeem that burden on feus already existing. If the vassal does not pay the feu-duty for two years, the superior, among other remedies, may obtain by legal process a decree of irritancy, whereupon tinsel or forfeiture of the feu follows. [4]
The legal basis of real burdens and title conditions was then reformulated in the Title Conditions (Scotland) Act 2003. [9] The end of feudal tenure simplified titles to land, while the subsequent Title Conditions (Scotland) Act 2003 modernised the types of interests and conditions that can be attached to those titles. [10]
After that date, the former vassal of an estate was the sole owner of the land, and the former superior's rights were extinguished. For a further two years, the superior had the option of claiming compensation; this was fixed at a single payment of a size that, when invested at an annual rate of 2.5%, would yield interest equal to the former ...
Generally, leases of residential property will be exempt from LBTT. For non-residential leases, Schedule 19 of the Land and Buildings Transaction Tax (Scotland) Act will apply. LBTT will be charged on both the rent and any other consideration paid for the lease. The LBTT on the rent will be payable on the net present value of the rent, and will ...