Demise Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Demise, written in plain English, along with examples of how it is used.
What is Demise?
1\) v. Term used to when a real property is leased or transferred for years or life, but not beyond. 2) n. The deed of a real property that only conveys it for years or life. 3) n. death 4). Failure.
History and Meaning of Demise
The term "demise" is a legal term that has a few different meanings depending on the context in which it is used. One of the most common uses of the term is in relation to real property that is leased or transferred for a limited period of time, such as for a term of years or for the duration of someone's life. When this happens, the landlord or property owner is said to "demise" the property to the tenant or person receiving the transfer.
In addition to this specific use, "demise" can also refer more broadly to a transfer of ownership or control of something. For example, if a business owner were to retire and transfer ownership of their business to their children, this could be described as a "demise" of the business.
Finally, "demise" can also be used to refer to death or failure, although this usage is less common in legal contexts.
Examples of Demise
- "The landlord demised the property to the tenant for a term of 10 years, with an option to renew for an additional 5 years."
- "Upon her death, the Queen's powers were immediately demised to her successor."
- "The company's financial troubles ultimately led to the demise of the business."
Legal Terms Similar to Demise
- Assignment: the transfer of an interest or right in property from one person to another.
- Bequest: a gift of personal property or money made in a will.
- Devise: a gift of real property made in a will.