Lease and release — is a temporary transfer (by sale) of title to real estate under real property law. Lease and release was a mode of conveyance of freehold estates, formerly common in England and in New York, its place is now supplied by a simple deed of grant. [… … Wikipedia
lease — Any agreement which gives rise to relationship of landlord and tenant (real property) or lessor and lessee (real or personal property). Smith v. Royal Ins. Co., C.C.A.Cal., Ill F.2d 667, 671. A contract for exclusive possession of lands,… … Black's law dictionary
lease — Any agreement which gives rise to relationship of landlord and tenant (real property) or lessor and lessee (real or personal property). Smith v. Royal Ins. Co., C.C.A.Cal., Ill F.2d 667, 671. A contract for exclusive possession of lands,… … Black's law dictionary
lease in reversion — A lease that becomes effective only at the expiration of the term of the prior lease. That the lease is to have this effect may be expressed in two ways, i. e., the time set for the beginning of the term in the second lease may be made to… … Ballentine's law dictionary
reversion — /rɪ vɜ:ʃ(ə)n/ noun a return of property to an original owner ♦ he has the reversion of the estate he will receive the estate when the present lease ends … Dictionary of banking and finance
lease and release — noun 1. : a nearly obsolete common law mode of conveyance of freehold estates by means of a lease vesting a leasehold estate in the lessee upon actual entry and a subsequent release of the reversion to the lessee, thus vesting the fee in the… … Useful english dictionary
reversion — re·ver·sion /ri vər zhən/ n [Anglo French, from Middle French, from Latin reversio act of turning back, from revertere to turn back] 1: the returning of an estate upon its termination to the former owner or to his or her successor in interest 2 a … Law dictionary
overriding lease — 1) A tenancy granted out of the reversion of an existing lease. The overriding lease must be for a longer term than the existing lease that it overrides. For the purposes of the Landlord and Tenant (Covenants) Act 1995 (1995 Act), a former tenant … Law dictionary
concurrent lease — See lease of the reversion. Related links lease of the reversion Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
reversionary lease — A lease granted for a term that commences on a date in the future. Confusingly, the term is also used to refer to a lease of the reversion. However, the two are not the same. Practical Law Dictionary. Glossary of UK, US and international legal… … Law dictionary
