The code of Hammurabi was the earliest known record of landlord-tenant coexistence. But England shaped the common law of landlord-tenant relations during the Middle Ages. Those time - yes during the Ancient and the Middle Ages - land was the primary economic asset and if you wanted rank and respect own land. However, the system where landowners ruled still wields an influence on estate experience today. But how? The principles and old terminology still stand.
As mentioned earlier, the jargons of today’s leasehold scandal businesses were borrowed from the old. Check these:
1. Tenancy at sufferance;
2. Tenancy for years;
3. The periodic tenancy; and
4. Tenancy by will.
Except socage and burgage, all the above are in use, and these are the 4 types of leasehold estates.
When a landowner gives one or more persons - tenants - permission to use his land in a fixed period of time, the land becomes a leasehold. The resident- (or worker-) landowner relation is called a "tenancy".
Rent (a form of consideration) is paid by tenant to the landowner. The leasehold can include buildings and other improvements to the land. Tenants can farm the leasehold, live on it, and/or practice a trade on it. Typically, 99 years is the length of time within which a tenant can hold a lease.
Tenancy was foundational to the feudal system. Vassals were tenants who worked in the property or on the Lands of the Lord. Most crown lands today are leasehold estates.
The history of a thriving system like leasehold estate is essential. Most especially in the light of the recent leasehold scandal and “Ground rent” matters which is up and being discoursed in the UK till date.
I hope you liked it. Good luck!