Quiz 6

4. A lease is usually a(n): a. estate for years. b. periodic tenancy. c. tenancy at will. d. tenancy at sufferance.

a (p.155)

12. An estate at sufferance does NOT require a notice of termination because: a. the lease has already expired. b. it is considered trespassing. c. it is generally for less than a year. d. all of the above.

a (p.157)

9. An estate where a tenant continues to retain possession, without the landlord's consent, after the expiration of the lease term is called a(n): a. estate at sufferance. b. Iess-than-freehold estate. c. estate at will. d. estate in reversion.

a (p.157)

18. A lease for a property in a town or city can be for any predetermined time, up to how many years? a. 99 years b. 100 years c. 10 years d. 50 years

a (p.164)

20. When a person temporarily rents out an apartment on which he or she holds a lease, it is called a(n): a. sublease. b. tenure. c. assignment. d. transfer.

a (p.165)

3. Which of the following is NOT a way to terminate a lease? a. Making monthly payments b. Destruction of the premises c. Surrender of the lease d. Expiration of the term

a (p.167)

5. A transaction where an owner sells his or her property to another party and leases the property from the new owner for a stated period of time is known as a: a. sale-leaseback. b. Iease purchase option. c. ground lease. d. net lease.

a (p.172)

6. Which of the following is NOT a type of leasehold estate? a. Estate for years b. Estate at will c. Life estate d. Estate at sufferance

c (p.157)

13. The amount that a property should rent for in the current open market is called the: a. assignment rent. b. contract rent. c. economic rent. d. sublease rent.

c (p.165)

19. A transfer of an ENTIRE lease from one person to another is known as a(n): a. sublease. b. sandwich lease. c. assignment. d. provisional lease.

c (p.165)

8. The amount of rent stated in the rental agreement is the: a. economic rent. b. justifiable rent. c. contract rent. d. Iegal rent.

c (p.165)

10. When a tenant has lived on a property for less than one year, how many days notice is a landlord required to give to terminate a month-to-month lease? a. 90 days. b. 45 days. c. 30 days. d. No notice required.

c (p.167)

14. Which legal document allows a sheriff to physically evict a tenant? a. Unlawful detainer b. Quit notice c. Writ of possession d. All of the above

c (p.170)

15. Selling an apartment: a. is impossible if tenant has a lease. b. terminates a tenant's lease. c. does NOT terminate a tenant's lease. d. none of the above.

c (p.172)

16. The lessee is the: a. owner or agent. b. grantor. c. landlord. d. tenant.

d (p.155)

1. A landlord's responsibilities include: a. protecting tenant's health and safety. b. obeying fair housing laws. c. giving 24 hours notice before entering rental. d. all of the above.

d (p.168)

2. A net lease is one in which the lessee pays for: a. property taxes. b. insurance. c. operating expenses. d. all of the above.

d (p.173)

17. An exclusive right to occupy and use property on a temporary basis is known as a(n): a. estate in fee. b. Ieasehold. c. estate for life. d. estate in remainder.

b (p.155)

7. In a landlord/tenant situation, who would be called the lessor? a. Tenant b. Owner c. Licensee d. Any of the above

b (p.155)

11. If a retail store rents for $5000 a month or 12% of the gross sales, the tenant has what type of lease? a. Gross lease b. Percentage lease c. Graduated lease d. Net lease

b (p.173)