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3 Cards in this Set
- Front
- Back
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Criteria of a parol lease |
3 years or less, immediate occupancy, exclusive possession, reasonable market rent with no purchase price |
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S.1(1) of Law of Property Act 1925 (LPA) |
Recognises 2 estates in land: (a) An estate in fee simple absolute in possession; (b)A term of years absolute |
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S.54(2) Law of Property Act |
Interest in land created by parol - verbally, 3 years or less |
