Fixed Term in United Kingdom
Definition of Fixed Term
In accordance with the work A Dictionary of Law, this is a description of Fixed Term : A tenancy or lease for a fixed period. The date of commencement and the length of a lease must be agreed before there can be a legally binding lease. It may take effect from the date of the grant, an earlier date, or a date up to 21 years ahead. At the end of the fixed term, the lease or tenancy comes to an end automatically: there is no need for a notice to quit. However, if the tenancy is an *assured tenancy, it will continue at the end of the term as a *statutory periodic tenancy unless it is brought to an end by *surrender of tenancy or a court order.
See also half a year; long tenancy.
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