lease and release

lease and release. Hist. A method of transferring seisin without livery, whereby the owner and the transferee would enter into a lease for a term of years, to take effect only when the transferee entered the property, whereupon the owner would release all interest in the property to the transferee by written instrument. • Once the transferee owned both the term and the freehold interest, the two interests would merge to form one estate in fee simple. This lease-and-release procedure was fully acceptable to the courts, on the theory that livery of seisin to one already occupying the land was unnecessary.
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译者Jessie,毕业于亚洲顶尖的高级翻译学院,擅长翻译各种与能源、自然资源与利用相关的法律文件。
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