ASSIGNMENT

LEASE

LICENSE(Profits A Prendre)

EASEMENT

CREATION

When the original tenant transfers leasehold to Valid contract containing: Names of the another tenantfor remaining term. Assignee Parties, method of payment, description of becomes liable to orginalLessor and not Property, ETC. Assignor or Lessee. Transfer of Rights were the Assignee steps into the shoes of the orginal Lessee. The writing is the Original Lease

Mere right to use. Revocable at will. No Expressed, implied (necessity or prior interest in Land. Oral agreement. Profits A use), or by prescription Prendre is a right to remove. (minerals/gravel.etc)

Required Writing must comply with Statute No writing required of Frauds.

Yes

WRITING: STATUTE OF FRAUDS

Terminates at the End of the Original Lease.

Terminates upon the terms of the contract. Revocable At will Date specified.

Mutual Agreement or by virtue of the conveying instrument.

PRIVITY

Assignee is not technically in Privity of Contract Lessee has Privity in Contract and Privity in No privity with the Landlord during the possession of the Estate through Possession Leasehold. Is in Privity with Estate

N/A

INTENT

Intent of the parties by expressed provisions in Intent of the Parties determines the the lease and the parties conduct determines the enforceability of the terms of the contract duration and the nature of the use. through the language of the contract and conduct of the parties. Prior written consent to the original conveying party. N/A Through the terms of the contract and execution by the parties N/A

Shows if the License will be coupled with an Through language (Right of Way, RR interest. If so, License becomes irrevocable. purposes) Four corners

N/A Licensee has no interest in land.

NOTICE

Notice applies to Implied Creations (Necessity and Prior Use) Dominant estate benefits, Servient is burdened

BENEFIT: DOMINANT AND SERVIENT

TRANSFERABILITY

Only if the Original Lease allows assignability. But can be transferred if the lease is treated as an independent separate contract.

Assignment and Sublease if allowed uder theNot transfer because its a personal right. terms of the contract. May require consent of the Lessor

Ingross nontransferable

Law and Equity

Law and Equity

Equity

Equity

REAL COVENANT
Expressed Promise with respect to land.
CREATION

EQ. SERVITUDE
When Missing 1 of the elements of Real Covenant

Yes
WRITING: STATUTE OF FRAUDS

Yes

Intent to terminate: Abandonment, Waiver, Merger, Change in Condition,Same as Real Covenant Expressed by Terms, Aquiesence, Experation, Mere Nonuse is not enough. CIRCUMSTANCES
TERMINATION

Modern Law: Vertical Privy Req'd.

Old Law: Horizontal and Mutual. Privity not required

Yes, Core Requirement. Parties must Intend the Promise to Run with the Intent may not be required land.
INTENT

Not required
NOTICE

YES. Actual, Constructive, or by Inquiry.

Affirmative=Acts upon the burdened land. Negative=Prevents the owner Same as Real Covenant of the burdened land of certain uses.
BENEFIT: DOMINANT AND SERVIENT

If Real Covenant runs with the land its binding upon the current owners Same as Real Covenant
TRANSFERABILITY

Law
ENFORCIBILITY: LAW OR EQUITY

Equity