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The tenancy agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels. In addition to the basics of a rental (who, what, when, how much), a real estate rental may go into much more detail on these and other issues.
The assured shorthold tenancy (AST) is the default legal category of residential tenancy in England and Wales.It is a form of assured tenancy with limited security of tenure, which was introduced by the Housing Act 1988 [n 1] and saw an important default provision and a widening of its definition made by the Housing Act 1996.
An exception to this are assured tenancies which are converted from being regulated by the Housing Act 1980 (except if granted by approved bodies under ss56-68 of the Housing Act 1980 before 15 January 1989, and before that date the tenant made an application to the court under section 24 of the Landlord and Tenant Act 1954 (for the grant of a new tenancy), and on 15 January 1989 the 1980 Act ...
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
A tenancy at sufferance (sometimes called a holdover tenancy) is created when a tenant wrongfully holds over past the end of the duration period of the tenancy (for example, a tenant who stays past the expiration of his or her lease). In this case, the landlord can hold over the tenant to a new tenancy, and collect rent for the period the ...
The Residential Tenancies Act 1986 sets out the rights and responsibilities of residential landlords and tenants, including the requirement to have a written tenancy agreement and the need to lodge tenancy bonds (if one is required) with the Ministry of Business, Innovation and Employment.
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