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Home > Law > Law glossary > Law glossary
term of years absolute
Last modified: Thu Feb 23 16:37:38 2006
This is one of the two forms of legal estate established
by the LawOfPropertyAct1925, which
abolished all legal estates except this one and the
freehold FeeSimpleAbsoluteInPossession.
A `term of years absolute' is simply a lease, which may
be InPossession, or come into possession in
the future. A lease which does not fulfil the formality
requirements to be regarded as a term of years absolute (that is,
a legal lease), may nevertheless be recognized as an EquitableLease.
LandAndPropertyLaw
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