GA Real Estate Cram Course Questions and Answers | 100% Correct Answer | Grade A+

Less than Freehold Estate Ans: a limited period of time Estate for years Ans: Lease for a definite period of time Periodic Tenancy Ans: A lease interest in land for an indefinite period involving payment of rent at fixed intervals, such as week to week, month to month, or year to year. Estate at will Ans: A lease that can be terminated by either party at will, without notice (ends any time) Estate at Sufferance Ans: Tenant remains on the property, without the landlord's permission, after the lease has expired Easment by Necessity Ans: arises when land has no access to a street or public way Percentage Lease Ans: A lease, commonly used for commercial property, whose rental is based on the tenant's gross sales at the premises; it usually stipulates a base monthly rental plus a percentage of any gross sales above a certain amount.