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15 Cards in this Set
- Front
- Back
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Residential Rental Agreements Act |
states landlord provide habitable units; landlords and tenants are mutually dependent provides tenant with rights & remedies such as Retaliatory Eviction Doctrine |
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subleases |
leasing a property by a tenant to a third party for the remaining term (assignment)
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NC Vacation Rental Agreement Act |
Applies to short term rentals less than 90days Expedited eviction = 4hr notice New buyer must honor 180days or 6 months of existing vacation leases after purchase |
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Installment land contract |
Sales contract and financing tool (owner financed) Buyer holds equitable title because they pay everything; seller old legal title until it's paid in full |
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Retaliatory Eviction |
Illegal eviction of a tenant who exercises his legal rights, like filing a complaint |
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Summary Ejectment |
Legal process of eviction for a tenant who breaches contract; in court |
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Self-Help eviction |
Illegal eviction by landlord; he find a tenant that is willing to pay him more.... |
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ESTATE FOR YEARS |
NORMAL LEASE AGREEMENT, HAS SET STARTING AND ENDING DATE |
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ESTATE FROM PERIOD TO PERIOD |
PERIODIC TENANCY; Automatically renews |
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Periodic tenancy |
Automatically renews; from period to period |
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Law of negligence |
Landlord is liable for injuries that occur in common areas; he must maintain safe conditions |
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Holdover tenant |
one who will not lease after lease is over; creates estate at sufferance |
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Security Deposit |
payment required by landlord from tenant to cover expenses of repairs and damages to premises greater than normal wear and tear |
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Tenant Security Deposit Act |
Regulates amount security deposit can be Lists allowable uses of deposit money week to week= 2 weeks deposit month to month= 1 1/2 months larger than month to month= 2 months |
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Leasehold estate |
Nonfreehold estate; rental estate |
