Difference between revisions of "Commercial Tenancies (19:XIV)"

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=== 3. Requirements for a Valid Agreement ===

*a) A lease or agreement to lease greater than three years in length must be in writing to satisfy the ''Law and Equity Act'' s 59 3(a);

*b) A lease over three years should be registered (but there is no legal obligation to do so);

*c) While a seal is no longer required for Land Title Office registration, if one of the parties to a lease is a corporation, its seal should be affixed to ensure the agreement is binding on the corporation, and to avoid any argument that the agreement was made without consideration; and

*d) The agreement must state the tenant’s right to exclusive possession as well as some indication of the premises being leased; the duration of the lease; the parties to the lease; the amount of rent; and covenants, conditions, exceptions or reservations.

=== 4. Description of Premises ===

To avoid having the lease struck down for uncertainty, there must be a description of the property adequate to identify it. An ambiguous description may be supplemented by parole evidence.

=== 5. Common Areas and Easements ===

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 === 3. Requirements for a Valid Agreement ===
-*a) A  lease  or  agreement  to  lease  greater  than  three  years  in  length  must  be  in  writing  to satisfy the ''Law and Equity Act'' s 59 3(a);
+*a) A lease or agreement to lease greater than three years in length must be in writing to satisfy the ''Law and Equity Act'' s 59 3(a);
 *b) A lease over three years should be registered (but there is no legal obligation to do so);
-*c) While a seal is no longer required for Land Title Office registration, if one of the parties to a lease is a corporation, its seal should be affixed to ensure the agreement is binding on  the  corporation,  and  to  avoid  any  argument  that  the  agreement  was  made  without consideration; and
+*c) While a seal is no longer required for Land Title Office registration, if one of the parties to a lease is a corporation, its seal should be affixed to ensure the agreement is binding on the  corporation, and to avoid any argument that the agreement was made without consideration; and
-*d) The  agreement  must  state  the  tenant’s  right  to  exclusive  possession  as  well  as  some indication of the premises being leased; the duration of the lease; the parties to the lease; the amount of rent; and covenants, conditions, exceptions or reservations.
+*d) The agreement must state the tenant’s right to exclusive possession as well as some indication of the premises being leased; the duration of the lease; the parties to the lease; the amount of rent; and covenants, conditions, exceptions or reservations.
 === 4. Description of Premises ===
-To  avoid  having  the  lease  struck  down  for  uncertainty,  there  must  be  a  description  of  the property  adequate  to identify  it.  An  ambiguous  description  may  be  supplemented  by  parole evidence.
+To avoid having the lease struck down for uncertainty, there must be a description of the property adequate to identify it. An ambiguous  description may be supplemented by parole evidence.
 === 5. Common Areas and Easements ===

Difference between revisions of "Commercial Tenancies (19:XIV)"

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