10. Leasehold Estates

The lease was not originally perceived to be within Land Law at all, but is now a familiar part of landholding. The underlying basis of the lease is a contractual one, a factor that has led, at times, to conflict between landlord and tenant as to whether the relationship should be regarded as the incidents of that estate, or should be governed by normal contractual principles. Leases are employed in three main areas: residential property, commercial property, and agricultural property. This chapter, which deals with leasehold estates, examines the context of leases, the essentials of a lease, exclusive possession, types of tenancy, and equitable leases, and also discusses the rights and duties under a lease, the enforceability of covenants, and termination of tenancies.