- Contract — Property and title and choice of law — Applicable law and transfer of title
This chapter discusses the manner in which leases can be transferred or assigned. Leases constitute an important exception to the general rule that burdens cannot be assigned. The assignment of any lease, no matter what its duration, must be effected formally by deed. This is so even where the lease could have been created informally. Additionally, so far as leases of over seven years are concerned, the transfer must be registered in order to be effective. There is a fundamental distinction between a legal and an equitable lease. A legal lease comes into being when the requisite formalities for the creation of such a lease have been complied with. Meanwhile, an equitable lease comes into being when, although the requisite formalities have not been complied with, there is nevertheless a contract for a lease to which equity will give effect.