Lease, Lease

In many jurisdictions that possibility has been partially or totally abolished. For example in England and Wales the Law of Property Act 1925 s149(6) abolishes lease for lives, and lease expressed to be for a life is converted into a lease for 90 years.

An oral lease for a tenancy of years that violates the Statute of Frauds (by committing to a lease of more thandepending on the jurisdictionone year without being in writing) may actually create a periodic tenancy, the construed term being dependent on the laws of the jurisdiction where the leased premises are located. In many jurisdictions the "default" tenancy, where the parties have not explicitly specified a different arrangement, and where none is presumed under local or business custom, is a month-to-month tenancy.

Under the modern common law, tenancy at will is very rare, partly because it can only come about if the parties expressly agree that the tenancy is at will and not for rent. However, tenancy at will is common where a family member is allowed to live in the home (a nominal consideration may be required) without any formal arrangements. In most residential tenancies for consideration, the tenant may not be removed except for cause, even if there is no written lease. Alternatively, a tenancy at will may be used for a temporary period where a tenant wishes to take possession of a property urgently, but there is insufficient time in which to negotiate and complete a new lease. In this case, the tenancy at will is terminated as soon as the new lease is completed and is usually agreed on the basis that if the new lease fails to complete within a reasonable time period, then the tenant must vacate the premises.

For a residential tenancy, this new tenancy is month to month. For a commercial tenancy of more than a year, the new tenancy is year to year; otherwise it is the same period as the period before the original lease expired. In either case, the landlord can raise the rent, so long as the landlord has told the tenant of the higher rent before the expiration of the original lease.

In the case of personal property, it is determined by the law and custom of the jurisdiction in which the rental agreement is made. For examples of what typical leases contain: A tenancy for years greater than 1 year must be in writing in order to satisfy the Statute of Frauds.

In England it was held in the case of Ashburn Anstalt v Arnold that rent was not a requirement for there to be a lease, however the court will more often construe a licence where no rent is paid as it is seen as evidence for no intention to create legal relationship. There is no requirement for the rent to be a commercial amount. "Pepper corn" rent or rent of some nominal amount is adequate for this requirement.

Source: Wikipedia > Lease