2 The Tenancy Agreement: Formalities for Creation
6.04 The tenancy agreement need not be in writing, although this is desirable. Most tenancies of agricultural holdings will be annual periodic tenancies – typically either Lady Day tenancies running from 25 March annually or Michaelmas tenancies running from 29 September.
In this case there are no formalities required at common law for the creation of the tenancy itself, which can be oral or in writing. If a fixed term tenancy was created, however, the requirements of ss 52 and 54 of the Law of Property Act 1925 must have been adhered to, and so a term of three years or more must have been executed by deed if it were to create a legal lease. No formality is required for the creation of a lease that takes affect in possession for a term not exceeding three years, at the best rent obtainable without taking a fine.3 Similarly, a contract to grant a lease taking effect in possession for a term not exceeding three years is exempt from the requirements of formality for the conclusion of land contracts,4 and can be made orally.56.05 The policy of the law is, however, to encourage certainty in the obligations applicable between landlord and tenant. Therefore the 1986 Act contains provisions enabling either party to have the tenancy agreement reduced into writing by arbitration, and to secure the inclusion of certain basic terms listed in Schedule 1 to the 1986 Act.
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