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3 Cards in this Set
- Front
- Back
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LEASING REAL PROPERRTY - JUST NOTES LL = Landlord T = Tenant |
Governed by a complex body of property law and contracts law Traditionally, a leasehold was seen as an estate in land In 1960’s courts began using contract law to redefine the LL/T relationship for residential leases |
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LEASING REAL PROPERRTY - JUST NOTES (CONT.) |
Today most jurisdictions view the lease as a hybrid, governed by both property law and contract law LL/T Revolution: Rights of residential T's today are much greater than 50 years ago |
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LEASING REAL PROPERRTY - JUST NOTES (CONT.) |
Immutable rules: supersede any contrary provisions in the lease, usually in order to protect vulnerable tenants Default rules: fill in the gaps that the parties did not address in the lease |
