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20 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Which transaction is BEST described as involving a ground lease? A. A land owner agrees to let a tenant drill for oil on a property for 75 years. B. The tenant agrees to pay a proportionate, increased rental based on annual appraisals of the rented property. C. A landlord charges a commercial tenant separate amounts for land and the leased building. D. The tenant pays a base amount for the property plus a percentage of business generated income. |
C. A landlord charges a commercial tenant separate amounts for the land and the leased building. |
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A tenant enters into a commercial lease that requires a monthly rent of a minimum fixed amount, plus an additional amount determined by the tenant gross receipts exceeding $5,000. This type of lease is called a A. Standard lease B. Gross lease C. Percentage lease D. Net lease |
C. Percentage lease |
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If a tenant moved out of a rented store building because access to the building was blocked as a result of the landlords negligence, the A. Tenant might have no legal recourse against the landlord. B. Landlord may be liable for the rent until the expiration date of the lease. C. Landlord may have to provide substitute space. D. Tenant may be entitled to recover damages from the landlord |
D. Tenant may be entitled to recover damages from the landlord |
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A tenant moves a pet into an apartment community that has no pet policy. The landlord wishes to remove the tenant due to the breach. The legal process to remove a tenant is known as A. Constructive eviction B. Eminent domain C. Actual eviction D. Partial eviction |
C. Actual eviction |
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A tenant still has five months remaining on a one-year apartment lease. When the tenant moves to another city, he transfers possession of the apartment to a friend for the entire remaining term of the lease. The friend pays rent directly to the tenant. In this situation, the tenant has become a(n) A. Assignor B. Sublessor C. Sunlessee D. Lessor |
B. Sublessor |
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The following is true about a holdover tenant? A. The landlord must accept additional rent if the tenant remains on the premises. B. The tenant must give the landlord a 30 day notice to vacate. C. The tenant may continue to occupy the premises without permission of the landlord. D. The landlord evict the tenant. |
D. The landlord evict the tenant. |
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A tenant's tenancy for years will expire in 2 weeks. The tenant plans to move to a larger apartment across town when the current tendency expires. In order to terminate this agreement, the tenant must A. Give the landlord immediate notice or the lease will automatically renew. B. Give the landlord 1 weeks prior notice or the lease will automatically renew. C. Do nothing because the agreement will terminate automatically at the end of the current term. D. Sign a lease for the new apartment, which will automatically terminate the existing lease. |
C. Do nothing because the agreement will terminate automatically at the end of the current term. |
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When a tenant holds possession of a landlord's property without a current lease agreement and without the landlord's approval, the A. Tenant is maintaining a gross lease. B. Landlord can file suit for possession. C. Tenant has no obligation to pay rent. D. Landlord may be subject to a constructive eviction. |
B. Landlord can file suit for possession. |
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Under the negotiated terms of a certain residential lease, the landlord is required to maintain the water heater. If the tenant is unable to get hot water because of a faulty water heater that the landlord has failed to repair after repeated notification, the tenant could do all of the following EXCEPT A. Sue the landlord for damages. B. Order a new water heater and send the bill to the landlord. C. Abandoned the premises claiming constructive eviction. D. Terminate the lease agreement. |
B. Order a new water heater and send the bill to the landlord. |
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A person has a one-year leasehold interest in a house. The interest automatically renews itself at the end of each year. The person's interest is referred to as a tenancy A. For years. B. From period to period. C. At will. D. At sufferance. |
B. From period to period. |
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Rent would BEST be described as A. Contractual consideration to a third party. B. Consideration for their use of real property. C. All monies paid by the lessor to the lessee. D. The total balance owed under the terms of lease. |
B. Consideration for their use of real property. |
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Which of the following would automatically terminate a residential lease? A. Total Destruction of the property. B. Sale of the property. C. Failure of the tenant to pay rent. D. Death of the tenant. |
A. Total Destruction of the property. |
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Which of the following describes a net lease? An agreement in which the tenant pays a fixed rate and the landlord pays all taxes, insurance, and expenses related to the property B. A lease in which the tenant pays rent, plus some -or most- of the operating expenses related to the property C. A lease in which the tenant pays the landlord percentage of the monthly income derived from the property D. An agreement granted an individual a leasehold interest in fishing rights for shore-line properties |
B. A lease in which the tenant pays rent, plus some -or most- of the operating expenses related to the property |
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A tenancy in which the tenant continues in possession after the lease is expired, without the landlord's permission, is a A. Tenancy for years. B. Periodic tenancy. C. Tenancy at will. D. Tenancy at sufferance. |
D. Tenancy at sufferance. |
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A percentage lease calls for a minimum rent of $1,200 per month plus additional annual rent of 4% of the years gross business exceeding $150,000. If the business generated $270,000 how much annual rent does the tenant owe? A. $10,800 B. $14,400 C. $19,200 D. $25,200 |
C. $19,200 |
$1,200 × 12= $14,400 $270,000 - $150,000= $120,000 $120,000 × .04= $4,800 $14,400 + $4,800= $19,200 |
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Which of the following describes a gross lease? A. An agreement in which the tenant pays a fixed rent and some or all the utilities and the landlord pays all taxes, insurance, and expenses related to the property. B. A lease in which the tenant pays rent plus some of the operating expenses related to the property. C. A lease in which the tenant pays the landlord a percentage of the monthly income derived from the property D. An agreement allowing the tenant to terminate the lease if certain conditions near the premise become unbearable |
A. An agreement in which the tenant pays a fixed rent and some or all the utilities and the landlord pays all taxes, insurance, and expenses related to the property. |
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A tenant signs a lease that includes a schedule of rent increases on specific dates over the course of the lease term. What kind of lease has this tenant signed? A. Percentage. B. Net. C. Graduated. D. Index. |
C. Graduated |
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A tenant signs a lease that includes the following clause: " the stated rent under the agreement will be increased or decreased every three months based on the percentage increase in the Consumer Price Index (CPI) for that period." What kind of lease has this tenant signed? A. Percentage B. Net C. Graduated D. Index |
D. Index |
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The death of either the landlord or the tenant will terminate the lease and the parties' heirs will NOT be bound by its terms under which of the following tendencies? A. Tenancy for years B. Periodic tenancy C. Tenancy at will D. Tenancy at sufferance |
C. Tenancy at will |
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The tenant leases the heated apartment, but the landlord fails to provide heat because of a defective central heating plant. The tenant vacates the premise and refuses to pay any rent. This is an example of A. Abandonment B. Actual eviction C. Constructive eviction D. Lessor negligence |
C. Constructive eviction |
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