Leaseholds are estates created for a fixed term, or for a term which is limited to come to an end at or before some fixed date.

Thus, an estate for 1000 years is merely a leasehold, and so is a gift "to A for 100 years, if he shall so long live; " though a gift "to A for life " is a freehold.

Leaseholds are personal property', personal interests in land being connected with realty in their nature they are called "chattels real."

Other forms of chattels real are mortgages (see Chapter XXIX (Mortgages. Section I. Form And Effect).) and estates by elegit (seelp. 110).

Section I. Forms Of Leasehold Interests

1. Tenancy by sufferance. - This is the smallest estate known to the law: it exists when a tenant for a fixed number of years remains in possession after Ids lease has expired. The landlord may turn him out or claim possession by an action of ejectment, without giving him notice.

If the tenant "holds over," i.e. remains in possession without the consent of the landlord, he is liable to the landlord for double rent.

2. Tenancy at will. - This is a tenancy which may be determined at any moment, either by the landlord or by the tenant, upon giving notice.

The landlord, in this case, cannot bring an action of ejectment unless he has given the tenant notice to quit.

If a tenant at will pays rent to the landlord, quarterly, or yearly, or for any regular period of time the tenancy becomes a tenancy from year to year; but this rule does not apply if a contrary intention is shown.

Thus, if a person takes lodgings and pays rent weekly, the probability is that a weekly tenancy is created (a).

3. Tenancy from year to year or yearly tenancy. - This tenancy is created by a grant of land "from year to year": the tenancy then continues until it is terminated by notice to quit, given by the landlord, or notice to determine the tenancy, given by the tenant.

Notice to determine a yearly tenancy.

(1) In case of agricultural land at least one year's clear notice must be given, expiring at the end of a current year.

That is, a lease commencing from a particular day in the year can only end on the same day in some other year.

Thus, A grants land to B on a yearly tenancy, commencing at Christmas, 1906. B could not leave at Christmas, 1907, unless he gave notice immediately; and if, after the lease has commenced, he wishes to leave at the earliest possible moment, he must give notice some time before Christmas, 1907, of his intention to leave at Christmas, 1908.

This provision is made by the Agricultural Holding's Act, 1883 (b).

(2) In the case of other land, at least half a year's clear notice must be given, expiring at the end of a current year.

Thus, in the last example, if B gave notice before midsummer, 1907, he could leave at Christmas, 1907: but, if not,

(a) Huffel v. Armitstead, 7 C. & P. 56.

(b) Agricultural Holdings Act, 1883, 46 & 47 Vict. c. 61, s. 33.

Leaseholds

3 95 he cannot leave before Christmas, 1908, and he can give notice to do so at any time before midsummer, 1908.

If the lease commences on one of the usual quarter days a half-year's (i.e. two clear quarters) notice must be given: if it commences on any other day, six calendar months' notice is required.

Thus, if a lease commenced on Lady Day (25th March),, notice could be given in any year at any time before the 29th of September (Michaelmas): but if the lease commenced on the 26th of March, the notice could not (probably) be given after the 26th of September (c).

4. A lease for a fixed term of years. - There is no limit to the length of a lease for years: it may be for 2 years or for 2000 or more.

Thus, A grants land to B for 1000 years; B has a lease and is called the " lessee." A is the lessor.