ASSIGNMENT

LEASE

LICENSE(Profits A Prendre)

EASEMENT

CREATION

When the original tenant transfers leasehold to Valid contract containing: Names of the another tenant for remaining term. Assignee Parties, method of payment, description of Property, ETC. becomes liable to orginal Lessor and not 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 interest in Land. Oral agreement. Profits A prior use), or by prescription Prendre is a right to remove. (minerals/gravel.etc)

WRITING: STATUTE OF FRAUDS

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

Yes

Terminates at the End of the Original Lease.

TERMINATION

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 with the Landlord during the possession of the in Estate through Possession Leasehold. Is in Privity with Estate

No privity

N/A

INTENT

Intent of the parties by expressed provisions in Intent of the Parties determines the the lease and the parties conduct determines enforceability of the terms of the contract the 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 purposes) Four corners irrevocable.

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. Assignment and Sublease if allowed uder But can be transferred if the lease is treated as the terms of the contract. May require an independent separate contract. consent of the Lessor

Not transfer because its a personal right.

Ingross nontransferable

Law and Equity

ENFORCIBILITY: LAW OR 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, Expressed by Terms, Aquiesence, Experation, Mere Nonuse is not enough. CIRCUMSTANCES
TERMINATION

Same as Real Covenant

Modern Law: Vertical Privy Req'd.

PRIVITY

Old Law: Horizontal and Mutual. Privity not required

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

Not required
NOTICE

YES. Actual, Constructive, or by Inquiry.

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

Same as Real Covenant

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

Same as Real Covenant

Law
ENFORCIBILITY: LAW OR EQUITY

Equity