Does a lease or licence to occupy land need to be writtten for s.175 CAA 2001?
I have a client who owns a trading company with his wife. The company's trading business operates from a building which the company has built on land owned personally by my client. The company has full occupation of the land in question to the exclusion of others. The company pays rent to the client for the use of the land but possibly there is no written document in place to show that a lease or licence to occupy exists.
The company has recently incurred substantial expenditure on extending and fitting out the building from which it operates, and my query is whether the absence of a written document to support its interest in the land stops the company from having a relevant interest in land as required by s.175 and s.176 of CAA 2001. Can anyone help?
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