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.
专业法律词汇 词条贡献者
双语律师Howard,毕业于法国一流的高级翻译学院,擅长翻译各类与欧美消费者隐私法规相关的法律文件。
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