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A secure fixed term tenancy is in the United Kingdom a tenancy existing for a fixed number of years. Fixed term tenancies were introduced in the Housing and Planning Act 2016 replacing the 'lifetime' secure council tenancy for new tenancies issued. The Housing and Planning Act 2016 allows for ten-year tenancies.
A tenant farmer is one who resides on land owned by a landlord. Tenant farming is an agricultural production system in which landowners contribute their land and often a measure of operating capital and management, while tenant farmers contribute their labor along with at times varying amounts of capital and management. Depending on the contract, tenants can make payments to the owner either of a fixed portion of the product, in cash or in a combination. The rights the tenant has over the land, the form, and measures of payment varies across systems. In some systems, the tenant could be evicted at whim ; in others, the landowner and tenant sign a contract for a fixed number of years. In most developed countries today, at least some restrictions are placed on the rights of landlords to evict tenants under normal circumstances.
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender's standard variable rate/base rate. There may be a direct and legally defined link to the underlying index, but where the lender offers no specific link to the underlying market or index, the rate can be changed at the lender's discretion. The term "variable-rate mortgage" is most common outside the United States, whilst in the United States, "adjustable-rate mortgage" is most common, and implies a mortgage regulated by the Federal government, with caps on charges. In many countries, adjustable rate mortgages are the norm, and in such places, may simply be referred to as mortgages.
A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant. When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for the female owners. The manager of a pub in the United Kingdom, strictly speaking a licensed victualler, is referred to as the landlord/landlady.
A lease is a contractual arrangement calling for the user to pay the owner for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased. Broadly put, a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use.
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
Life insurance is one of the fastest-growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859. Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
The assured shorthold tenancy (AST) is the default legal category of residential tenancy in England and Wales. It is a form of assured tenancy with limited security of tenure, which was introduced by the Housing Act 1988 and saw an important default provision and a widening of its definition made by the Housing Act 1996. Since 28 February 1997 in respect of accommodation to new tenants who are new to their landlords, the assured shorthold tenancy has become the most common form of arrangement that involves a private residential landlord. The equivalent in Scotland is short assured tenancy.
A mortgage loan or simply mortgage is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
An assured tenancy is a legal category of residential tenancy to an individual in English land law. Statute affords a tenant under an assured tenancy a degree of security of tenure. A tenant under an assured tenancy may not be evicted without a reasonable ground in the Housing Act 1988 and, where periodic changes in rent are potentially subject to a challenge before a rent assessment committee.
Gladstone v Bower [1960] 2 QB 384 was a 1959 case in the English Court of Appeal, concerning security of tenure in tenancies of agricultural holdings. It arose from what was then thought to be a lacuna in the Agricultural Holdings Act 1948.
A Section 8 notice, also known as the Section 8 notice to quit or Form 3. It is a prerequisite if the landlord of an assured tenancy or assured shorthold tenancy wishes to obtain possession order from the court, thereby ending the tenancy, for a reason based on a circumstance entitling the landlord to possession under the grounds pleaded. It is used in England and Wales and is part of the Housing Act 1988. as amended by the Housing Act 1996.
The history of rent control in England and Wales is a part of English land law concerning the development of rent regulation in England and Wales. Controlling the prices that landlords could make their tenants pay formed the main element of rent regulation, and was in place from 1915 until its abolition by the Housing Act 1988.
In England and Wales, a section 21 notice, also known as a section 21 notice of possession or a section 21 eviction, is the notice which a landlord must give to their tenant to begin the process to take possession of a property let on an assured shorthold tenancy without providing a reason for wishing to take possession. The expiry of a section 21 notice does not bring a tenancy to its end. The tenancy would only be ended by a landlord obtaining an order for possession from a court, and then having that order executed by a County Court bailiff or High Court enforcement officer. Such an order for possession may not be made to take effect earlier than six months from the beginning of the first tenancy unless the tenancy is a demoted assured shorthold tenancy. If the court is satisfied that a landlord is entitled to possession, it must make an order for possession, for a date no later than 14 days after the making of the order unless exceptional hardship would be caused to the tenant in which case possession may be postponed to a date no later than six weeks after the making of the order. The court has no power to grant any adjournment or stay of execution from enforcement unless the tenant has a disability discrimination, public law or human rights defence, or the case is pending an appeal.
Rent control in Scotland is based upon the statutory codes relating to private sector residential tenancies. Although not strictly within the private sector, tenancies granted by housing associations, etc., are dealt with as far as is appropriate in this context. Controlling prices, along with security of tenure and oversight by an independent regulator or the courts, is a part of rent regulation.
A short assured tenancy is a type of tenancy in Scotland that was introduced by the Housing (Scotland) Act 1988. A short assured tenancy gives landlords some protection and freedom of action when letting their properties. Short assured tenancies have become the norm within the residential letting industry in Scotland. The equivalent legislation in England and Wales is assured shorthold tenancy. Following the enactment of the Private Housing (Tenancies) (Scotland) Act 2016, it is no longer possible to create a short assured tenancy, instead a private residential tenancy must be entered into; with greater protections for the tenant such as security of tenure.
Rent regulation in Canada is a set of laws and policies which control the amount by which rental prices for real property can increase year to year. Each province can pass legislation, where the purpose is to limit rent prices increasing beyond what is affordable for most home dwellers.
Rent regulation is a system of laws, administered by a court or a public authority, which aims to ensure the affordability of housing and tenancies on the rental market for dwellings. Generally, a system of rent regulation involves:
The Housing Act 1988 is an Act of Parliament in the United Kingdom. It governs the law between landlords and tenants. The Act introduced the concepts of assured tenancy and assured shorthold tenancy. It also facilitated the transfer of council housing to not-for-profit housing associations, which was then carried out partly through the system of Large Scale Voluntary Transfer.
The Housing and Planning Act 2016 is Act of Parliament in the United Kingdom that makes widespread changes to housing policy and the planning system. It introduces legislation to allow the sale of higher value local authority homes, introduce starter homes and "Pay to Stay" and other measures intended to promote home ownership and boost levels of housebuilding. The Act has been subject to a number of criticisms by those opposed to the loss of social housing promoted, the extension of right-to-buy to housing associations and possible work disincentives under "Pay to Stay".
The Model Tenancy Act, 2019 is a proposed tenancy law by the Government of India, designed to overhaul the tenancy market in India.
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Generally a probationary period of one year and the tenancy reviewed after an initial 9 months. If there are no issues the tenancy is then converted to a fixed term five years. Reviewed in the final year before being beginning a further five years if the tenant(s) still meet the requirements and criteria. However, if the initial probationary term is breached by way of arrears or anti social behaviour the period can be extended by six months before a decision is undertaken to award a five-year term or terminate the agreement.