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32 Cards in this Set

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Define estate at sufferance:
the tenancy of a lessee who lawfully comes into possession of a landlord's real estate but who continues to occupy the premises improperly after his/her lease rights expired
Define lease:
a written or oral contract between a landlord and a tenant that transfers the right of exclusive possession and use of the landlord's real property to lessee(tenant) for a specified period of time and for a stated consideration(rent)
Define lessee:
tenant in a lease
Define lessor:
landlord in a lease
Define ground lease:
a lease of land only,on which the tenant usually owns a building or is required to build as specified in the lease--such leases are long-term net leases
Define gross lease:
a lease of property according to which a landlord pays all property charges regularly incurred through ownership,such as repairs,taxes,insurance,and operating expenses
Define implied warranty of habitability:
a theory in landlord/tenant law in which the landlord renting residental property implies that the property is habitable and fit its intended use
Define assignment:
the transfer in writing of interest in a bond,mortgage,lease,or other instrument
Define cash rent:
in an agricultural lease, the amount of money given as rent to the landowner at the outset of the lease,as opposed to sharecropping
Define constructive eviction:
actions of a landlord that so materially distrub or impair a tenant's enjoyment of the leased premises that the tenant is effectively forces to move out & terminate the lease without liability for any futher rent
Define actual eviction:
the legal process that results in the tenants being physically removed from the leased premises
Define lease purchase:
the purchase of rel property,the consummation of which is preceded by a lease,usually long-term--typically done for tax or financing purposes
Define net lease:
a lease requiring that the tenant pay not only rent but also costs incured in maintaining the property,including taxes,insurance,utilities, and repairs
Define estate at will:
an estate that gives the leassee the right to possession until the estate is terminated by either party; the term of the estate is indefinite
Define holdover tenancy:
a tenancy whereby a lessee returns possession of leased property after the lease has expired & the landlord, by continuing to accept rent,agrees to the tenants continued occupancy as defined by state law
Define estate from period to period:
an interest in leased property that continues from period-to-period;week to week,month to month,or year to year
Define month-to-month tenancy:
a periodic tenancy under which the tenant rents for one month at a time--in the absence of a rental agreement,a tenancy is generally considered to be month to month
Define leasehold estate:
a tenant right to occupy real estate during the term of a lease,generally considered to be a personal property interest
Define estate for years:
an interest for a certain,exact period of time in property leased for a specified consideration
Define rental-finding service:
any business that finds,attempts to find,or offers to find for any person for consideration a unit of rental real estate
Define sharecropping:
in an agricultural lease,the agreement the landowner & the tenant farmer to split the crop or the profit from its sale,actually sharing the crop
Define percentage lease:
a lease,commonly used for commercial property,whose rental is based on the tenants gross sales at the premises;it usually stipulates a base monthly rental plus a percentage of any gross sales above a certain amount
Define triple-net lease:
a lease where the tenant pays all operating and other expenses in addition to rent
Define sublease:
the leasing of premises by a lessee to a third party for part of the lessee's remaining term
Define security deposit:
a payment by a tenant,held by the landlord during the lease term and kept(wholly or partially) on default or destruction of the premises by the tenant
Define reversionary right:
the return of rights of possession and quiet enjoyment to the lessor at the expiration of a lease
Name 4 leasehold estates:
1)estate for years
2)estate from period to period
3)estate at will
4)estate at sufferance
What are the 5 requirements of a valid lease:
Capacity
Legal objective
Offer
Acceptance
Consideration
7 types of leases:
1)gross lease
2)net lease
3)percentage lease
4)variable lease
5)ground lease
6)oil & gas lease
7)lease purchase
Under an assignment, who is primarily liable for the rent?
assignee
Under a sublease, who is primarily liable for the rent?
lessee/sub-lessor
Who can forcibly evict the tenant?
sheriff