Lease and licence problem question Essay Example | Topics and Well Written Essays - 1500 words - 1

Lease and licence problem question - Essay Example Currently, Jeffrey has found himself with financial constrains, over and above, his marriage being under increased strain. He thinks of selling the property and moving away for sometimes. Two weeks ago, while his wife was away visiting his elderly mother and Peter was on a business trip in America, he found a buyer, David Matthews who was prepared to offer cash for quick sale. A licence is a contractual right to use a property particularly land that would otherwise be illegal. Conversely, a lease is an interest of land that is given by the lesser to a lessee for a defined period of time while granting exclusive possession. In light of this, it is clear that Jeffrey has the legal rights over the property at Georgetown, and hence has title to the property. Needless to mention, Jeffrey is among the people who have indefeasibility of title. According to property law, this means that Jeffrey is included in the title as the owner who has an indefeasible or unquestionable title of the property. Besides, the state guarantees the correctness of the information contained on the title and is, therefore, liable to provide compensation under assurance fund. Thus, legal interests are solely concerned with ownership of property as in the case of Jeffrey who has control that is associated with the ownership.1 With this regard, it is entirely challenging for his wife Alic e to claim any legal right for the property even though she is married to him. The fact that Alice moved into the property in 2005, and has continually spent a considerable amount of her savings in renovating the property to an extent of converting the top floor into an apartment, which Jeffrey later leases out to Peter, a businessman for five years, a situation that does not recognise her as an exclusive or shared possessor. Simply, Alice could only be recognised by Law, only if she was registered as one with ‘equitable interest’ to the property. This way