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Home > Law > Law glossary > Law glossary
equitable lease
Last modified: Thu Feb 23 16:37:37 2006
An equitable lease is created when one person contracts
with another to assign or create a lease, in circumstances where
the lease should be created by deed or registered,
and the leasee
takes possession before these formalities are completed.
For most
purposes the leasee will be treated in litigation as if
the formalities had been observed. However,
if the leasee wished to assign the lease to another
(see: AssignmentlandAndProperty),
the presence of covenants (see: Covenant)
does not bind the assignee in the same was as for a formal
legal lease.
LandAndPropertyLaw
Law glossary index
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