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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 .
Landlord–tenant law governs the rights and responsibilities of leasehold estates, like in an apartment complex. Landlord–tenant law is the field of law that deals with the rights and duties of landlords and tenants. In common law legal systems such as Irish law, landlord–tenant law includes elements of the common law of real property and ...
Landlord and Tenant Act (with variations) is a stock short title used for legislation about rights and responsibilities of landlords and tenants of leasehold estate in many Canadian provinces and territories, Hong Kong, the United Kingdom and the United States.
[1] [2] For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee. The lessor may be the owner of the property or an agent authorized on the owner's behalf. Commercial banks, credit non-bank organizations, leasing companies often act as lessors. [3] [4]
Tenancies above a couple of years are normally called leases and tend to be lengthy; if more than seven years a new leasehold estate must be registered. [11] These are governed by few of the above rules and are in longer examples deliberately more akin to full ownership than tenancies, in general. They seldom require a sizeable ground rent. The ...
The Government will also consult on capping existing ground rents and the standard lease extension term will be increased from 90 years to 990 years.
A housing lease may specify whether the renter is living alone, with family, children, roommate, visitors. A rental may delineate the rights and obligations of each of these. For example, a "sub-let" to a stranger might not be permitted without permission of the landlord. This also applies to whether or not pets may be kept by the renter.
Leasehold reforms proposed by the Government have been branded an “eviscerated shell of a bill” that fails to deliver on Conservative election promises.