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The licensee falls between the anticipated or discovered trespasser and the invitee on the sliding scale of tort liability assessed to landowners. Whereas the anticipated trespasser needs to be protected from known man made conditions capable of causing death or serious injury, the licensee must be warned of all known dangers. However, unlike ...
Other brokers and agents may focus on representing buyers or tenants in a real estate transaction. However, licensing as a broker or salesperson authorizes the licensee to legally represent parties on either side of a transaction and providing the necessary documentation for the legal transfer of real property.
The status of a visitor as an invitee (as opposed to a trespasser or a licensee) defines the legal rights of the visitor if they are injured due to the negligence of the property owner. There are generally two types of invitees:. Business Invitee is a person who enters business property to do business with the land occupier. [1]
If not, it generally applies by default. This "security of tenure" is expressly subject to common reasons and associated mechanisms for a landlord to obtain back the premises. If a landlord is selling a block and a qualifying tenant occupies more than 50%, the tenant should be given the right of first refusal at the asking price to buy the ...
You're planning to purchase a new home, and while browsing online, you've noticed many of the listings you're interested in contain unfamiliar real estate terms. Specifically, you want to learn ...
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
This model is also used in the residential space, but mostly for small units in high-demand locations. Here, the company signs a rental agreement with the owner and pays them a fixed rent. As per the agreement, the company is given the right to sublet the property for a higher rent. The company's income is the difference between the two rents.
Street v Mountford [1985] UKHL 4 is an English land law case from the House of Lords. It set out principles to determine whether someone who occupied a property had a tenancy (i.e. a lease), or only a licence.