farm business tenancy

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A tenancy created under the Agricultural Tenacies Act 1995. A farm business tenancy will be established where there is a grant of a tenancy on or after 1 September 1995 of land to be used for the purposes of agriculture. The regime does not provide automatic security of tenure; the tenancy may be determined by notice of intention to terminate by either party as long as at least one years' notice is given. The tenancy may allow diversification into businesses other than agriculture. There is provision for compensation for tenants' improvements at the end of the tenancy, provided they were carried out with the consent of the landlord. Compare agricultural holding.

Subjects: Law.

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