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LSDefine

Simple English definitions for legal terms

lease for life

Read a random definition: incompetent evidence

A quick definition of lease for life:

A lease for life is an agreement where someone can rent a piece of land for as long as they live, instead of for a set number of years. The person who rents the land pays a small amount of money each year, but also has to pay a fee when they first start renting and when they renew the lease. If the person who owns the land is a group like a monastery or college, they get extra money from these fees. However, this type of lease became less popular when laws were made in the 1800s that made it harder for groups to make money this way.

A more thorough explanation:

A lease for life is a type of lease for land that lasts for the duration of a specified number of lives instead of a set number of years. Unlike a tenant with a lease for a set number of years, a lessee for life could recover the land if dispossessed.

For example, if a person leased a piece of land for their lifetime and the lifetime of their two children, the lease would end when all three individuals had passed away. The rent paid for a lease for life was usually small, but a fine was paid when the lease was granted, and another fine was payable when the lessee exercised the right to replace the lives and extend the lease.

Leases for life were popular in the past, but they lost their popularity when legislation in the first half of the nineteenth century compelled corporations to add fines to their capital instead of treating them as income.

lease contract | lease for years

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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