Real Estate/Development
Sep. 7, 2001
Privity Policy
It is a distinction that has muddled the brains of generations of law students. A lease of real property creates two sets of rights and obligations: those arising by virtue of the transfer of an estate in land to the tenant (privity of estate), and those existing by virtue of the parties' express agreements in the lease (privity of contract).
By Michael E. Di Geronimo and Helen Wolff
It is a distinction that has muddled the brains of generations of law students. A lease of real property creates two sets of rights and obligations: those arising by virtue of the transfer of an estate in land to the tenant (privity of estate), and those existing by vir...
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