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What is a reversionary lease UK?

The term reversionary lease is used to describe a lease "where possession is delayed to a future date" and is different from a lease of the reversion. In simple terms a reversionary lease is one which is granted today, with a term commencement date of tomorrow or some other future date.

Can you have a lease without exclusive possession?

Exclusive possession is an essential ingredient of a lease; without exclusive possession there can be no lease. Exclusive possession is the right to use premises to the exclusion of all others, including the landlord himself.

What is exclusive ownership or possession?

exclusive ownership. Ownership free from any kind of legal or equitable interest in any one else.

What does in contract mean real estate?

When a home is under contract (which is sometimes called \u201cactive under contract\u201d), it means that the buyer has made a formal offer on the property and the seller has accepted their offer.

What is the meaning of exclusive possession?

One of the most basic building blocks in tenant-landlord law is exclusive possession. It is a concept that means that once a landlord offers a space for rent, a tenant has exclusive possession, and, within the rules of the lease, can do whatever they want within the home (as long as it's legal, of course).

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