TOPIC 5: TENANCIES 5.1 Definition of a Lease/Tenancy 5.1.1 ‘Tenancy’ and ‘Tenancy Exempt from Registration’ – ss 5‚ 213 and 223 5.2 Creation of a Tenancy 5.2.1 Indorsement of Tenancy 5.3 Types of Tenancy under NLC 5.4 Determination of Tenancies References: 1. Teo & Khaw‚ Chapter 6 2. Sihombing J‚ Chapter 15 3. Joshua‚ Chapter 8 4. Salleh Buang‚ Chapter 7 5. Ainul Jaria Maidin‚ Chapter 8 TOPIC 5: TENANCIES 5.1 DEFINITION OF A TENANCY • Meaning under NLC: o “tenancy”:
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The most basic definition for real estate is "an interest in land". Broadening that definition somewhat‚ the word "interest" can mean either an ownership interest (also known as a fee-simple interest) or a leasehold interest. In an ownership interest‚ the investor is entitled to the full rights of ownership of the land (for example‚ to legally use and transfer the title of the land/property)‚ and must also assume the risks and responsibilities of a landowner (for example‚ any losses as a result of
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Leasehold and freehold‚ forms of property ownership Owning a property is a cherished dream for most Zimbabweans. The property purchase process which involves selecting the right location‚ the right property and the right price also involves a critical aspect of selecting the appropriate ownership structure. Property can be owned primarily in two forms‚ leasehold and freehold with several other derivations from these two ownership structures. The main difference between these primary ownership
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Question 1 This Problem concerns the enforceability and remedies of leasehold covenants between landlords and tenants‚ and their successors in title. The ground floor lease is granted before 1 January 1996 and so the covenants are governed by a mixture of statute and common law. The first and second floor leases were granted in 2001 after the coming into force of the Landlord and Tenant (Covenant) Act 1995 and are dealt with under this statutory regime. Ground Floor On the facts the original
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are more concerned with a retailing orientation. Many of the companies operating pubs are aiming to grow sales‚ and respond quickly to changes in consumer tastes and fashions. They no longer own brewing facilities and frequently control whole estates of the pubs that are marginal‚ and where the actions‚ skills and motivations of local unit managers are crucial for the success or failure of the property. The exploration of different forms of indirect control via tenancy and lease arrangements
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leased warehouse. The lease expired in 2011. He negotiated a new lease on the warehouse with his landlord; the lease has a term of 5 years with one option to renew for an additional 5 years. The lease period commenced on March 14‚ 2011. Cost of the leasehold improvements was $77‚000. As part of his business expansion activities‚ Stoiche acquired a franchise with an indefinite life on March 1‚ 2011. The cost of the franchise is $10‚000. c. Stoiche purchased a commercial rental property on December 5
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Chaucer And Estate Satire The meanings of the word “estate” defined by the Middle English Dictionary is ‘a class of persons‚ especially a social rank or a political class or group; also a member of particular class or rank’. The idea of the "estates" is important to the social structure of the Middle Ages. (Mann‚ Jill. Chaucer And Medieval Estate Satire. Introduction. London: Syndics of Cambridge University Press‚ 1973. 1-7.Print.) Feudal society was traditionally divided into three "estates". The "First
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In my estate planning practice‚ it is not uncommon to meet with a new client who wants an estate plan prepared‚ but is a bit vague as to what should be included in that plan. Quite frequently‚ the initial conversation begins with the client saying something like‚ "I would like a will... or should I have a trust? Do I need anything else?" Actually‚ those are good questions to begin a discussion. Most folks recognize that their estate plan should provide for the distribution of their assets upon their
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INTRODUCTION REAL ESTATE IN INDIA CURRENT SCENARIO OF THE REAL ESTATE MARKET IN INDIA Commercial real estate sector is in boom in India. In the last fifteen years‚ post liberalization of the economy‚ Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable demographics‚ increasing purchasing power‚ existence of customer friendly banks & housing finance
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NeedsLease has placed into service various leasehold improvements that have economic useful lives of 12 years. In the lease agreement‚ there are certain provisions that may require the lessee to perform certain activities and to incur certain costs at the end of the lease term. Such provisions include: • Lessor may require the lessee to perform general repairs and maintenance on the leased premises. • Lessor may require the lessee to remove all leasehold improvements‚ restoring to original condition
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