Ch. 7 Leasehold Estates

Lease

A contract between an owner and tenant, setting forth conditions upon which the tenant may occupy and use the property and the term of the occupancy.

Sublease

A lease given by a lessee.

Graduated Lease

A lease which provides for a varying rental rate, often based upon a future determination; sometimes rent is based upon the result of periodic appraisals; used largely in long-term leases.

Personal Property Interest

A leasehold estate is considered to be?

Personal Property interest

A leasehold estate is considered to be?

Leasehold Estate

A tenants right to occupy real estate during the term of the lease. This is a personal property interest.

Estate at Sufferance

An estate arising when the tenant wrongfully holds after the expiration of the term. The landlord has the choice of evicting the tenant as the trespasser or accepting such tenant for a similar term under the condition of the tenant's previous holding. Also called a tenancy at sufferance.

Periodic Estate

An interest in land where there is no definite termination date but the rental period is fixed at a certain sum per week, month, or year. Also called an estate from period to period.

Estate for Years

An interest in lands by virtue of a contract of a contract for the possession of them for a definite and limited period of time. May be for a year or less. A lease may be said to be an estate for years.

Lessor

An owner who enters into a lease agreement with a tenant; a landlord.

Constructive Eviction

Any disturbance of the tenant's possession of the lease premises by the landlord whereby the premises are rendered unfit or unsuitable for the purpose by which they were leased.

Yes with permission from the landlord

Can a tenant make improvements to leased property?

Yes with the landlords permission

Can a tenant make improvements to leased property?

A 99 year lease

For which of the following lease terms might you find in a ground lease?

A 99-year lease

For which of the terms do you find a ground lease?

The landlord may not be able to terminate the lease

If the language of the estate at wills say tenancy continues at will or desire of the tenant, under what circumstances can the tenant terminate the lease?

Property insurance and property taxes

In addition to rent, which of these expenses is the tenant responsible for paying ina double net lease?

Property insurance and property taxes

In addition to rent, which one f these expenses is the tenant responsible for paying in a double net lease?

Lessee

One who contracts to rent, occupy, and use property under a lease agreement; a tenant.

If the language of an estate at wills says tenancy continues at will or desire of a tenant, under what circumstances can a tenant terminate a lease

The landlord may not be able to terminate the lease

Estate At Will

The occupation of lands and tenements by a tenant for an indefinite period, terminable by one or both parties.

Actual Eviction

The removal of a tenant by the landlord because the tenant breached a condition of a lease or another rental contract.

Assigned a lease

When a tenant signs over their rights and responsibilities to someone else, effectively terminating their own involvement in the lease, they have?

Assigned the lease

When a tenant signs over their rights and responsiblities to someone else, effectively terminating their own involvement in the lease, they have?

Periodic estate

When the lease in an estate at years end, what type of leasehold estate exists?

Periodic estate

When the lease in an estate for years ends, what type of leasehold estate exists?

A month-to-month lease

Which is an example of a periodic estate?

A month-to-month lease

Which of the following is an example of a periodic estate?