chapter 6

Periodic Estate

An estate from period to period, or periodic tenancy, is created when landlord and tenant enter into an agreement for an indefinite time; that is, the estate does not contain a specific expiration date. Such a tenancy is created initially to run for a definite term-for instance, month to month, week to week, or year to year-but continues indefinitely until proper notice of termination is given.

possession of premise

The lessor, as the owner of the real estate, is usually bound by the implied covenant of quiet enjoyment that the lessee occupy the leased premises without interference from the owner or anyone else. Quiet enjoyment does not have anything to do with barking dogs or late-night motorcycles. The lease usually stipulates the conditions under which the landlord may enter the property to perform maintenance, to make repairs, or for other stated purposes. Except in emergencies, the tenant's permission is usually required, which may be stipulated in the lease or by state law.

Term of Lease

The term of a lease, the period for which the lease will run, should be stated precisely, including the beginning and ending dates together with a statement of the total period of the lease.

Leasehold Estate

a tenant's right to possess real estate for the term of the lease is called a leasehold (less-than-freehold) estate. A leasehold is generally considered personal property.

use of premises

A lessor may restrict a lessee's use of the premises through provisions included in the lease. Use restrictions are particularly common in leases for stores or commercial space For example, a lease may provide that the leased premises are to be used only as real estate office and for no other purpose. In the absence of such clear limitations, lessee may use the premises for any lawful purpose.

Estate at sufferance

An estate at sufferance arises when a tenant who lawfully possessed real property continues in possession of the premises without the landlord's consent render possession at the expiration of the lease.

Estate at Will

An estate at will gives the tenant the right to possess property with the landlord's consent for an unspecified or uncertain term. An estate at will is a tenancy of indefinite duration. it continues until it is terminated by either party giving proper notice.

Lease Agreements

The lease may be written, oral, or implied, depending on the circumstances and the requirements of the statute of frauds. As previously discussed, oral leases may be enforceable, but a written lease is always preferable.