Certify Header Lease For Free

Underlying Lease with respect to any Mortgaged Leased Property, the lease agreement under which an interest in such leased property is held, as the same may be amended, supplemented, waived or otherwise modified from time to time.

Leasehold Title Unless the leaseholder makes arrangements to extend the lease, once it expires, ownership of the property returns to the freeholder even if you have paid for your flat or house outright.

A headlease is a lease granted out of the freehold and an underlease is one granted out of a headlease. There may be any number of underleases (sometimes described as sub-underleases, sub-sub-underleases and so on), but each underlease must expire before the one out of which it is granted.

Exclusive possession; 2. Fixed term; and 3. Consideration, usually in the form of rent. Determinate term/Fix Term The lease must be for a limited period of time, which can be identified with sufficient certainty.

To distinguish between lease rent paid by sub-lessee to head lessee and rent paid by head Lessee to freeholder Lessor, the term Head Rent is used for lease rent paid by the Head Lessee to Head Lessor, the freeholder.

Landlord: Typically, this is the freeholder but there are situations where your immediate landlord is the 'head leaseholder', not the freeholder. A 'head leaseholder' will be the leaseholder with the longest lease, who has leased your flat to you and who pays ground rent to the freeholder.

Underletting means you become a landlord to an undertenant. Your undertenant may take some or all of your premises and they will occupy on the terms of an underlease that you and they enter into.

A superior lease, also known as a 'Head Lease' is the lease held by a landlord when they are not the owner of the property but also leasing the property from someone else. The Superior Lease sets out conditions that the landlord has agreed with the Superior Landlord.