16641 Lecture Notes - Lecture 1: Constructive Notice, Leasehold Estate
Document Summary
Whether the leased premises are of old system title or torrens title land; and, whether the lease is a legal lease or an equitable lease. [11. 29] key requirements for creation of legal and equitable leases. Act 1919 (nsw) of 3 years can be granted and: under legislation where market registered rent is paid, lease takes effect in possession and is for a term of 3 years or less. [11. 30] generally, a legal lease of ost must be created by deed. In the act, nt and qld, a written instrument is sufficient (conveyancing act 1919 s 23b (1)). These rules apply for both fixed-term and periodic leases. [11. 31] registered leases in the torrens system, it is registration of a lease that passes the equivalent of legal title to the leasehold estate. Leases created in approved form may be registered in all australian jurisdictions as to the minimum length of the term if a lease which may be granted and registered.
