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A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1]
The original lease and release was devised by Sergeant Moore for the benefit of Lord Norris, "to avoid the unpleasant notoriety of a livery or attornment." [ 5 ] In 1841, the Conveyance by Release without Lease Act was passed, which made a "statutory release" sufficient in England for conveying freehold land without the need for an earlier ...
A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically mentioned, "marketable title" may be specified, implying a warranty deed should be provided.
The term rental agreement can refer to two kinds of leases: A lease in which the asset is tangible property. [3] Here, the user rents the asset (e.g. land or goods) let out or rented out by the owner (the verb to lease is less precise because it can refer to either of these actions). [4]
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
According to Karin Lehmann, the word "use" encompasses both jus utendi, the right of using the property; and; jus fruendi, the right to gather and enjoy the civil and natural fruits of the property. [1]: 907 The lessee does not, however, obtain jus abutendi: the right to take any of the substance of the leased property. Consequently, so-called ...
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