L
Land Registry
A government department responsible for keeping and maintaining the Land Register of England and Wales. The department registers title to land in England and Wales and records dealings, such as sales and mortgages, with registered land.
Landlord/Lessor
The party letting the property.
Leasehold
The right to occupy a portion of a building for a given length of time.
Legacy
A gift left in a will (also see pecuniary legacy).
Legal aid
Limited facility for the fees and expenses of counsel and solicitors retained by those of modest means paid from a fund administered by the Legal Services Commission.
Legal Expenses Insurance
Insurance to cover legal expenses often purchased or supplied in conjunction with motor or household insurance or which may be purchased after the event to specifically cover legal expenses in a particular claim.
Legitimate interests
An employers right to have certain interests protected by law.
Lessee/Leaseholder
The person to whom a lease is granted.
Lessee/Tenant
A party to whom a property has been let.
Lessor/Landlord
The person who grants a lease.
Letter of Claim
One of the initial mandatory steps within the Pre -Action Protocols.
Letter of consent
Letter from one party consenting to the use or registration of another partys trade mark.
Libel
The publication or broadcast of an untruth about a person that will harm their reputation by fostering the ridicule, hatred, scorn or contempt of others. Libel is distinguished from slander, which is oral defamation (see defamation).
Licence
A legal agreement granting a person (the licensee) permission to use something for certain purposes or under certain conditions.
License
Agreement granting a person (the licensee) permission to use a work for certain purposes or under certain conditions.
Lien
Right to retain possession of assets or documents until full settlement of a debt.
Life interest
The right to enjoy for life (or until a specified time period has elapsed or an event has occurred) an asset which will eventually revert to the original estate on the expiry of the term.
Limitation period
The period of time available to a Claimant to bring an action against a Defendant.
Liquidation
The procedure whereby the assets of a company are gathered in and realised, the liabilities met and surplus, if any, distributed to members.
Liquidation Committee
A committee of creditors who receive information from the liquidator and sanction some of his actions.
Liquidator
The person appointed to deal with the assets and liabilities of the company or partnership once the resolution to wind up has been passed or a compulsory winding up order has been made.
Litigation
Contesting an issue at law through Court proceedings.
Litigation Friend
The person who conducts the claim on behalf of a Minor or other person who lacks the mental capacity to conduct the claim themselves.
Local Search
A search carried out at the local authority to check whether there have been any notices registered affecting the use of the property.
LPA
Lasting Power of Attorney.
LPA Receiver (Law of Property Act 1925 receiver)
A person appointed to take charge of a mortgaged property by a lender whose loan is in default, usually with a view to sale or to collect rental income for the lender.
Lump sum
Payment of a capital sum of money.
