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5 Cards in this Set
- Front
- Back
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What is a LEASE? EE-261 |
owner contracts to grant a tenant or lessee exclusive possession of specific real or personal property |
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What are the TYPES OF LEASES? EE-262+ |
1. Term of Years 2. Periodic Tenancy 3. Tenancy at Will 4. Tenancy at Sufferance Your Tremendous William Shakespeare |
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What is a TERM OF YEARS (Tenancy for Years) lease? EE 262 |
a lease for a fixed period of time. . . . It arises from any lease/agreement that expires at the end of a defined period. |
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What is a TENANCY AT WILL? EE 264 |
a landlord-tenant agreement that endures only as long as the parties agree it shall. It continues ONLY by MUTUAL agreement. |
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What is TENANCY AT SUFFERANCE? EE 265 |
NOT a true estate. It is a type of wrongful occupancy and occurs when any of the three other types of tenancy hold over past the end of the lease term. |
