ABSTRACT
Leasehold estates are estates in land recognised by the common law as occurring when the owner of a freehold estate in fee simple grants another person the exclusive possession of all or part of the land, for a fixed or definable period of time, subject to the grantee or lessee paying a stipulated rent and performing such other obligations as are set out in or to be implied in the instrument granting the lease. The person granting the lease is called the ‘lessor’, and the person to whom it is granted is called the ‘lessee’. Under the common law, a lease may also be granted by the holder of a leasehold estate, in which case, the lease is called a ‘sublease’, and the original lease is called a ‘headlease’.
