In present times the significance of tenures is brought out by the development of estates in land. All the land being held by the Crown means that one does not own land; rather one holds an estate in land. No one is considered as the owner of the land by the common law of property while it permits a wide range of estates. Estate defines how long a right to a land will last.
There are two forms of estate namely the life estate and the fee simple. A life estate is a right to the land for life. It can be considered the ownership of land. On the other hand, fee simple is a right which lasts indefinitely and can be passed on death of the holder by will or intestacy. A wide range of interests can be created in land. Leases, easements, mortgages, covenants and licenses are some of the interests in private landholding system.
("LAA) to include all land other than alienated land. This includes all land within the limits of the State that forms the airspace, seabed and coastal waters of the State. Government department or statutory authority has all the rights and obligations of every landowner. The LAA is the State's primary statute for dealing with Crown Land. The LAA defines an "interest" (Crown Land Administration and Registration Practice Manual) in relation to Crown land in section 3. "Interest", in relation to Crown land, means, Crown lease, easement, lease, mortgage, profit prendre or other interest, including such interests as are lawfully granted or entered into by a management body, and their counterparts under the repealed Land Act 1933. The Minister for Lands is a body corporate that was established under the Land Act 1933 and continued in that capacity under the LAA. The Minister makes decisions on Crown land. In order to be effective all dealings creating interests or granting tenure in Crown land are registered under the provisions of the Transfer of Land Act 1893 ("TLA").
Lease means the use of another's land, usually for a specific time in return for the payment of rent. According to the law commission it is temporary property ownership. The lease enables one to use land without any commitment involved in owning it. Millions of homes commercial property shops, offices and factories are leased. When the lessee will not have adequate resources to purchase the premises the lease gives added flexibility in moving to different premises later on. Similarly it is common for land to be farmed by tenant farmers, frequently lacking the resources to purchase the freehold.
The lease is found in many different forms. Its flexibility makes it suitable for a wide range of circumstances. For instance there is a 999-year lease (Roger S., 2003, pp 349) in return for a substantial capital sum and a nominal rent. Such a lease is identical to a fee simple. In contrast to long leases there are periodic tenancies where lease continues for many years. They may also be monthly, quarterly or yearly. The periodic tenancy is of two types.The first is where the parties do not define a specific period. So there is no need for renewals as required for fixed-term leases. The second type of