Content Requirements of a Lease (Part 1) | Land Law

Subscribe to my personal channel for videos on how to study law effectively & efficiently:    / @heygarethevans   The House of Lords in Street v Mountford held that an occupation agreement amounts to a lease if and only if it satisfies three content requirements:

1. It confers exclusive possession of land;
2. In return for rent and/or a lump sum payment (a “premium”); and
3. For a certain term

So this is the orthodox statement of the lease content requirement, which is still the leading authority in leases. A lease that does not fulfil these requirements cannot be a lease. What is determinative is not what the parties think they have created, or what they label the right they have created, what is determinative is what the substance of the right amounts to.

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