BLM74620 - 鈥橧ncome-into-capital鈥� schemes and back loaded leases: Back loaded leases: first condition - lease of real property
In the case of a lease of real property where a contract or agreement for the lease is followed later by 鈥榗ompletion鈥� the lease will have been 鈥榞ranted鈥� on the later date. In other cases, including real property cases where the agreement for a lease is not followed by 鈥榗ompletion鈥�, the lease will have been granted when the contract or agreement is made.