License For Lease In Middlesex
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FAQ
A lease is a conveyance of exclusive possession of specific property… usually in consideration of the payment of rent, which vests an estate in the grantee, while a license, on the other hand, merely makes permissible acts on the land of another that would otherwise lack permission.
A license connotes the use or occupancy of the grantor's premises. But a lease grants exclusive possession of designated space to a tenant, subject to rights specifically reserved by the lessor. A license is cancellable at will and without cause.
Tenancy or lease Technically in law, there is no difference between the terms "tenancy" and "lease". However, statutes relating to letting residential property most often use the word "tenancy", while those regulating commercial occupancy use the word "lease". As a result, we all tend to follow that usage.
The provisions came into force in April 2006 and apply in England and Wales. In a Selective Licensing area, all private landlords must obtain a licence; the authority can take enforcement action if they fail to do so or don't achieve acceptable management standards.
Leases are less flexible in nature and typically have a fixed term, while licences can be granted for a specific period or indefinitely.
A lease creates a property right in land, capable of being registered at HM Land Registry which can be sold, assigned, or inherited, while a licence is a personal right which cannot be transferred.
You'll have a legal agreement with the landlord (sometimes known as the 'freeholder') called a 'lease'. This tells you how many years you'll own the property. Ownership of the property returns to the landlord when the lease comes to an end. Most flats are leasehold.
The provisions came into force in April 2006 and apply in England and Wales. In a Selective Licensing area, all private landlords must obtain a licence; the authority can take enforcement action if they fail to do so or don't achieve acceptable management standards.
