Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

lease for life

Read a random definition: Reserved Power of Appointment

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
LSD+ is ad-free, with DMs, discounts, case briefs & more.