The agreement by which one party holds possession of the real property owned by another is a lease. The person who owns the real property is known as the lessor or landlord. The lessee, or tenant, is the one who occupies the property.
The relationship of landlord and tenant is created by contract. An oral lease is valid at common law, but statutes in most States require written leases for certain tenancies. Many States provide that a lease for a term exceeding three years must be in writing. Statutes in other States require written leases when the term exceeds one year.
The following elements are necessary to the establishment of the relationship of landlord and tenant:
" The occupying of the land must be with the consent of the landlord.
" A reversionary interest in the land must remain in the landlord. That is, the landlord must be entitled to retake the possession of the land upon the expiration of the lease.
" The tenant must have present possession in the land. This means a right to be in possession of the land now.
Wyoming Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements In Wyoming, a lease or rental agreement of vacant property or lot with the lessee having the right to construct improvements is a legally binding arrangement that allows individuals or businesses to lease a vacant property or lot for a specified period with the added benefit of constructing improvements on the premises. This type of lease is particularly beneficial for parties looking to develop or transform the property according to their specific needs and requirements. Keywords: Wyoming, lease, rental, vacant property, vacant lot, lessee, construct improvements, legally binding, specified period, develop, transform, needs, requirements. Types of Wyoming Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements: 1. Commercial Lease with Construction Rights: This type of lease is designed for businesses looking to establish a commercial space on a vacant property or lot in Wyoming. The lessee gains the right to construct improvements such as office buildings, warehouses, retail stores, or other commercial structures according to their business needs. 2. Residential Lease with Construction Rights: This lease is suitable for tenants who wish to lease a vacant residential property or lot and have the opportunity to construct improvements like additional rooms, outdoor living spaces, or renovate existing structures to enhance their living environment. 3. Industrial Lease with Construction Rights: Industries requiring specific infrastructure or facilities can opt for this type of lease. Lessees are granted the right to construct improvements such as manufacturing plants, storage facilities, distribution centers, or any other industrial structures necessary for their operations. 4. Agricultural Lease with Construction Rights: This lease is intended for agricultural purposes and allows lessees to cultivate, raise livestock, or engage in other agricultural activities on the vacant property or lot. They may also have the right to construct improvements such as barns, silos, or irrigation systems to support their agricultural operations. 5. Mixed-Use Lease with Construction Rights: This type of lease combines various purposes, allowing lessees to construct a mix of residential, commercial, and/or industrial improvements on the vacant property or lot. It caters to individuals or businesses looking to create a diverse and versatile space that serves multiple functions. It is important for both the lessor and the lessee to carefully review and negotiate the terms and conditions of the lease agreement, including the rights, restrictions, responsibilities, and obligations related to construction, maintenance, and termination, to ensure a smooth and mutually beneficial leasing experience. Seeking legal advice is recommended to ensure compliance with local laws and regulations governing lease agreements in Wyoming.
