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Renting a strip of land from the neighbour
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A lease is a lease. You'll need lender's consent no matter what you call it. They won't be impressed if they try to repossess and find a third party occupying the garden.canaldumidi said:
Is there not a significant legal difference between leasing the land (eg a permenant land right for a number of years), and renting it?user1977 said:Have they got a mortgage? They can't lease bits of their property without their lenders' consent - and this would be an odd sort of lease for lenders to get their head around.
Admittedly they'd also need lenders' consent to sell you the strip, but at least that's a relatively commonplace sort of request.0 -
user1977 said:
A lease is a lease. You'll need lender's consent no matter what you call it. They won't be impressed if they try to repossess and find a third party occupying the garden.canaldumidi said:
Is there not a significant legal difference between leasing the land (eg a permenant land right for a number of years), and renting it?user1977 said:Have they got a mortgage? They can't lease bits of their property without their lenders' consent - and this would be an odd sort of lease for lenders to get their head around.
Admittedly they'd also need lenders' consent to sell you the strip, but at least that's a relatively commonplace sort of request.What about a licence to occupy?Lenders rarely care about, or need to be informd about, lodgers for example.
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A licence to occupy is a licence to occupy.canaldumidi said:user1977 said:
A lease is a lease. You'll need lender's consent no matter what you call it. They won't be impressed if they try to repossess and find a third party occupying the garden.canaldumidi said:
Is there not a significant legal difference between leasing the land (eg a permenant land right for a number of years), and renting it?user1977 said:Have they got a mortgage? They can't lease bits of their property without their lenders' consent - and this would be an odd sort of lease for lenders to get their head around.
Admittedly they'd also need lenders' consent to sell you the strip, but at least that's a relatively commonplace sort of request.What about a licence to occupy?Lenders rarely care about, or need to be informd about, lodgers for example.
A lease which pretends it's a licence to occupy is still a lease.
Renting a specific strip of ground for a specified term for a rent is going to be a lease.0 -
user1977 said:
A licence to occupy is a licence to occupy.canaldumidi said:user1977 said:
A lease is a lease. You'll need lender's consent no matter what you call it. They won't be impressed if they try to repossess and find a third party occupying the garden.canaldumidi said:
Is there not a significant legal difference between leasing the land (eg a permenant land right for a number of years), and renting it?user1977 said:Have they got a mortgage? They can't lease bits of their property without their lenders' consent - and this would be an odd sort of lease for lenders to get their head around.
Admittedly they'd also need lenders' consent to sell you the strip, but at least that's a relatively commonplace sort of request.What about a licence to occupy?Lenders rarely care about, or need to be informd about, lodgers for example.
A lease which pretends it's a licence to occupy is still a lease.
Renting a specific strip of ground for a specified term for a rent is going to be a lease.But a licence to occupy which is not a lease pretending to be a licence to occupy, is a licence to occupy.....So Op could arrange it without a specified term.0 -
Yes. Though that won't help them if the lender has conditions which still catch it e.g. taking Nationwide's as a random example:canaldumidi said:user1977 said:
A licence to occupy is a licence to occupy.canaldumidi said:user1977 said:
A lease is a lease. You'll need lender's consent no matter what you call it. They won't be impressed if they try to repossess and find a third party occupying the garden.canaldumidi said:
Is there not a significant legal difference between leasing the land (eg a permenant land right for a number of years), and renting it?user1977 said:Have they got a mortgage? They can't lease bits of their property without their lenders' consent - and this would be an odd sort of lease for lenders to get their head around.
Admittedly they'd also need lenders' consent to sell you the strip, but at least that's a relatively commonplace sort of request.What about a licence to occupy?Lenders rarely care about, or need to be informd about, lodgers for example.
A lease which pretends it's a licence to occupy is still a lease.
Renting a specific strip of ground for a specified term for a rent is going to be a lease.But a licence to occupy which is not a lease pretending to be a licence to occupy, is a licence to occupy.....So Op could arrange it without a specified term.
"You must not change the use or occupation of the property without our written consent. This includes leasing, letting, licensing or parting with possession of it, or any part of it."
Anyhoo, no lender here as it turns out.2
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