Chapter 11

Possessory Lien

A bailee's right to retain possession of a bailor's property as security for the payment of a debt or performance of some other act.

Exculpatory Clause

A clause that releases a contractual party from liability in the event of monetary or physical injury, no matter who is at fault.

Periodic Tenancy

A lease, which has the original terms automatically renewed for successive periods, until proper notice to terminate is given by either the landlord or tenant. Month to month rental.

Implied Warranty of Habitability

A theory in landlord/tenant law in which the landlord renting residential property implies that the property is habitable and fit for its intended use.

Liquidated Damages

An amount, stipulated in a contract, that the parties to the contract believe to be a reasonable estimation of the damages that will occur in the event of a breach.

Retaliatory Eviction

An eviction carried out by a landlord primarily for revenge, or retaliation, against a particular tenant who has in some way angered the landlord.

Forcible Eviction

An illegal eviction technique, by which a landlord confronts a tenant, forcibly removes all personal items, and changes locks on the unit.

Peaceable Eviction

An improper eviction technique by which a landlord surreptitiously enters the absent tenant's apartment, removes the tenant's belongings, and changes locks to the unit. It is peaceable in the sense that no eye-to-eye, person-to-person confrontation takes place, as in a forcible eviction.

Tenancy at Will

An occupation of space for an indefinite period which can be terminated by either the lessor or lessee at any time.

Ordinary Wear and Tear

Deterioration in a residential rental property that is attributable to the passage of time (e.g., fading of draperies) and not to abuse by the tenant.

Convenant of Quiet Enjoyment

The covenant implied by law which a landlord guarantees that a tenant may take possession of leased premises and that the landlord will not interfere in the tenant's possession or use of the property.

Unlawful Detainer

The legal action a landlord brings against the tenant to evict when there is legal cause.

Abatement

The suspension of the duty of rent payment while the premises are uninhabitable.

Abandonment

When a tenant leaves rented premises with no intent to return or to honor legal obligations under the lease.

Lease

a contract granting use or occupation of property during a specified time for a specified payment

Sublease

a lease from one lessee to another

Lessor

a party that has agreed contractually to let another party use its asset for a period at an agreed price

Rent Control

a price ceiling placed on rent

Lessee

a tenant who holds a lease

Grace Period

a time period during which no finance charges will be added to your account

Constructive Eviction

action by a landlord that compels a tenant to leave the premises (as by rendering the premises unfit for occupancy)

Rental Agreement

legal instrument that specifies amount, due date, penalties, length, deposit, wear and tear, expenses, renewal, termination, penalties, and restrictions regarding a lease of facilities.

Landlord

property owner who rents said property to others

Tenant

someone who pays rent to use land or a building or a car that is owned by someone else

Rent

the act of rending or ripping or splitting something

Security Deposit

the amount of collateral a customer deposits with a broker when borrowing from the broker to buy securities

Tenancy for Years

the right to occupy property for a definite or fixed period of time

Tenancy at Sufference

when a tenant doesn't leave the premisese after his or her tenancy has expired