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The part of the lease known as the demise is short but crucial – it is
where the leasehold interest is created. In this clause, the landlord
agrees to let the Property to the tenant for the agreed term,
reserves the rent and sets out the rights granted to the tenant and
those reserved by the landlord. The items included in the rent are
usually set out in full in this clause. The Property, the term and the
rights may also be set out in the demise but are usually defined
elsewhere in the lease and simply referred to here, because this
makes the drafting neater.
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December 2005 |
