Being a fellow law student, I'm sure you can appreciate my propensity to play "the Devil's Advocate." >:-D
Reading about your planned adventures in gardening immediately caused a couple of questions to crop up.
Does a "term of years" agreement to a leasehold estate allow the present possessor to improve the value to the property? Is the relationship between the leasehold tenant and landlord analogous to the relationship between a life tenant and remaindermen?
On the face of it, they seem to be similar. It seems to me that in the same way that a life tenant has the right to use and enjoy the premises for the duration of his life, with a future interest held by either the grantor or remaindermen, the present possessor of a leasehold estate has a right to quiet enjoyment of the premises, with a remainder held by the landlord at the conclusion of the "term of years." Of course the life tenant has the right to alienate the property which the leasehold tenant does not, so they are definitely not identical. Despite that, there seems to be some overlap between the two.
If they are in fact parallel in this regard, wouldn't it follow that the restriction on a life tenant regarding ameliorative waste and its positive impact to the value of the property regarding remaindermen would similarly inhibit a leasehold tenant from ameliorative waste due to its positive impact on the landlord?
And, well, far be it from me to question your gardening savvy, the extent of my skills being limited to spotting a dirty hoe, what if the garden plan turns awry and creates damage to the property? The parade of horribles is dancing through my mind.
Also, what will happen when you choose to part ways with the land (and the landlord)? If I am not mistaken, improvements made to the leasehold estate are considered attachments. I don't know if you would actually perform a plant transplant when you leave your present digs, but won't you lose the financial value of the garden as it will become the property of the landlord?
I hate to be the one to rain on your...um...garden, but these are the concerns I have about your project. I only voice these concerns because I care.
That said, have a great time with the family, I hope the garden will be a stunning success, and best of luck in your summer endeavors!
2 Comments:
excuses, excuses, excuses...
Being a fellow law student, I'm sure you can appreciate my propensity to play "the Devil's Advocate." >:-D
Reading about your planned adventures in gardening immediately caused a couple of questions to crop up.
Does a "term of years" agreement to a leasehold estate allow the present possessor to improve the value to the property? Is the relationship between the leasehold tenant and landlord analogous to the relationship between a life tenant and remaindermen?
On the face of it, they seem to be similar. It seems to me that in the same way that a life tenant has the right to use and enjoy the premises for the duration of his life, with a future interest held by either the grantor or remaindermen, the present possessor of a leasehold estate has a right to quiet enjoyment of the premises, with a remainder held by the landlord at the conclusion of the "term of years." Of course the life tenant has the right to alienate the property which the leasehold tenant does not, so they are definitely not identical. Despite that, there seems to be some overlap between the two.
If they are in fact parallel in this regard, wouldn't it follow that the restriction on a life tenant regarding ameliorative waste and its positive impact to the value of the property regarding remaindermen would similarly inhibit a leasehold tenant from ameliorative waste due to its positive impact on the landlord?
And, well, far be it from me to question your gardening savvy, the extent of my skills being limited to spotting a dirty hoe, what if the garden plan turns awry and creates damage to the property? The parade of horribles is dancing through my mind.
Also, what will happen when you choose to part ways with the land (and the landlord)? If I am not mistaken, improvements made to the leasehold estate are considered attachments. I don't know if you would actually perform a plant transplant when you leave your present digs, but won't you lose the financial value of the garden as it will become the property of the landlord?
I hate to be the one to rain on your...um...garden, but these are the concerns I have about your project. I only voice these concerns because I care.
That said, have a great time with the family, I hope the garden will be a stunning success, and best of luck in your summer endeavors!
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