Mastering Principles Of Real Estate. Unit 8
Test With All Answers
Identify hthe hcharacteristics hof h4 hcommon htypes hof hleasehold hestates. h- h hcorrect
hanswer- h hEstate hfor hYears= hdefinite hperiod
Estate hfrom hPeriod hto hPeriod= hIndefinite hperiod
Estate hof hWill h(indefinite hperiod/consent hof howners)
Estate hat hSufferance h(without hthe hconsent hof howner)
Describe hEstate hfor hYears h- h hcorrect hanswer- h hlessee hmust hvacate hat hthe hend hof
hthe hlease, hno hnotice his hrequired. hcan hbe hany hfixed hamount hof htime, h(month, hsix
hmonths, ha hyear) hcan hbe hreferred has han hestate hfor ha hstated hperiod. h
Sale hof hthe hproperty hor hdeath hof heither hthe htenant hor hthe hlandlord hdoes hnot
hterminate hthe hleasehold. hheirs hmust hpay hthe hremaining hlease hperiod. hMay hbe
hterminated hbefore hthe hlease hexpires hif hagreed hon hby hboth hparties.
Describe hPeriodic hEstates h- h hcorrect hanswer- h hAKA hestates hfrom hperiod hto hperiod.
hDoes hnot hhave han hexpiration hdate h, hcontinues hfor hindefinite hamount hof htime. hThe
hrent his hpaid hat hdefinite hintervals, hand heach htime hit his hpaid, hthe hlease
hautomatically hrenews. hNotice hmust hbe hgiven hbefore hterminating hthe hlease. hMust
hbe hat hthe hsame hinterval has hthe hlease, h1 hweek, h1 hmonth, h6 hmonths, hetc. hIt hcan
hvary hstate hto hstate.
Describe hTenancy h(Estate) hAt hWill h- h hcorrect hanswer- h hThe htenant hmay hpossess
hthe hproperty hwith hthe hconsent hof hthe hlandlord. hTerm his hfor han hindefinite hperiod
hand hcan hbe hterminated hby heither hparty hif hsufficient hnotice his hgiven. hThe htenancy
hcannot hbe hassigned hand hwill hterminate hif hthe hproperty his hsold hor hon hthe hdeath
hor hinsanity hof heither hthe hlandlord hor hthe htenant.
, Tenancy h(Estate) hat hSufferance h- h hcorrect hanswer- h hHoldover htenancy, hthe htenant
hwrongfully hremains hin hpossession hof hthe hproperty hafter hthe hright hhas hexpired.
hDiffers hthan ha htrespasser has hthe htenant hentered hproperty hlegally. hIf hthe hlandlord
haccepts hrent h, hthen hthe htenancy hchanges hto ha hperiodic htenancy.
Calculate hthe hrent hamount hfor ha hpercentage hlease. h- h hcorrect hanswer- h h
Discuss hthe hprovisions hincluded hin ha hlease hagreement. h- h hcorrect hanswer- h h
Assignment h- h hcorrect hanswer- h hTransferring hcontract hrights hor hobligations. hIn ha
hlease hsituation, htransferring hall hremaining hterms hof hthe hlease hto hsomeone helse.
Constructive hEviction h- h hcorrect hanswer- h hOccurs hwhen ha htenant his hforced hto
hleave hthe hproperty hbecause hit hhas hbecome huninhabitable.
Estate hfor hyears h- h hcorrect hanswer- h hA hleasehold hestate hthat hcontinues hfor ha
hdefinite hperiod hof htime. hThis his hthe hmost hcommon htype hof hleasehold hestate hand
husually hrequires hno hnotice hto hterminate.
Eviction h- h hcorrect hanswer- h hThe hprocess hof hremoving ha htenant hfrom hthe
hpremises hif ha hlease hagreement his hbreached. hImplemented hby hfiling ha hsuit hfor
hpossession hafter hgiving hsufficient hnotice hto hthe htenant. hThe hremoval hof ha htenant
hby ha hlandlord hbecause htenant hbreached ha hcondition hof hthe hlease.
Graduated hLease h- h hcorrect hanswer- h hAllows hfor hrent hchanges hat hset hfuture
hdates. hAlso hcalled ha hvariable hlease.
Gross hlease h- h hcorrect hanswer- h hA hlease hagreement hin hwhich hthe htenant hpays ha
hfixed hamount hof hrent hand hthe howner hpays hall hthe hexpenses hof hthe hbuilding. hThis
his hthe hmost hcommon htype hof hlease. halso hcalled hstraight hlease hor hflat hlease. hmost
hoften hused hfor hresidential hunits.
Ground hlease h- h hcorrect hanswer- h hA hlong-term hlease hof hand h( h50 hyears hor hmore)
hthat husually hrequires hthe htenant hto hconstruct ha hbuilding. hThe htenant halso hpays
hbuildings hoperating hexpenses, hthus hmaking hthe hlease ha hnet hlease. hmost hoften
hused hby hbusiness hto hlease hundeveloped hindustrial hor hcommercial hproperty.
Holdover htenancy h- h hcorrect hanswer- h hOccurs hwhen ha htenant hremains hon hthe
hproperty hafter hthe hright hto hpossess hit hhas hexpired.
Index hLease h- h hcorrect hanswer- h hA hlease hagreement hin hwhich hthe hrent hchanges
hare hbased hon hsome heconomic hindex.
Lease hagreement h- h hcorrect hanswer- h hA hlease hagreement his hboth ha hcontract hand
ha htransferring hof hownership hinterest h(the hright hof hpossession) hin hreturn hfor
Test With All Answers
Identify hthe hcharacteristics hof h4 hcommon htypes hof hleasehold hestates. h- h hcorrect
hanswer- h hEstate hfor hYears= hdefinite hperiod
Estate hfrom hPeriod hto hPeriod= hIndefinite hperiod
Estate hof hWill h(indefinite hperiod/consent hof howners)
Estate hat hSufferance h(without hthe hconsent hof howner)
Describe hEstate hfor hYears h- h hcorrect hanswer- h hlessee hmust hvacate hat hthe hend hof
hthe hlease, hno hnotice his hrequired. hcan hbe hany hfixed hamount hof htime, h(month, hsix
hmonths, ha hyear) hcan hbe hreferred has han hestate hfor ha hstated hperiod. h
Sale hof hthe hproperty hor hdeath hof heither hthe htenant hor hthe hlandlord hdoes hnot
hterminate hthe hleasehold. hheirs hmust hpay hthe hremaining hlease hperiod. hMay hbe
hterminated hbefore hthe hlease hexpires hif hagreed hon hby hboth hparties.
Describe hPeriodic hEstates h- h hcorrect hanswer- h hAKA hestates hfrom hperiod hto hperiod.
hDoes hnot hhave han hexpiration hdate h, hcontinues hfor hindefinite hamount hof htime. hThe
hrent his hpaid hat hdefinite hintervals, hand heach htime hit his hpaid, hthe hlease
hautomatically hrenews. hNotice hmust hbe hgiven hbefore hterminating hthe hlease. hMust
hbe hat hthe hsame hinterval has hthe hlease, h1 hweek, h1 hmonth, h6 hmonths, hetc. hIt hcan
hvary hstate hto hstate.
Describe hTenancy h(Estate) hAt hWill h- h hcorrect hanswer- h hThe htenant hmay hpossess
hthe hproperty hwith hthe hconsent hof hthe hlandlord. hTerm his hfor han hindefinite hperiod
hand hcan hbe hterminated hby heither hparty hif hsufficient hnotice his hgiven. hThe htenancy
hcannot hbe hassigned hand hwill hterminate hif hthe hproperty his hsold hor hon hthe hdeath
hor hinsanity hof heither hthe hlandlord hor hthe htenant.
, Tenancy h(Estate) hat hSufferance h- h hcorrect hanswer- h hHoldover htenancy, hthe htenant
hwrongfully hremains hin hpossession hof hthe hproperty hafter hthe hright hhas hexpired.
hDiffers hthan ha htrespasser has hthe htenant hentered hproperty hlegally. hIf hthe hlandlord
haccepts hrent h, hthen hthe htenancy hchanges hto ha hperiodic htenancy.
Calculate hthe hrent hamount hfor ha hpercentage hlease. h- h hcorrect hanswer- h h
Discuss hthe hprovisions hincluded hin ha hlease hagreement. h- h hcorrect hanswer- h h
Assignment h- h hcorrect hanswer- h hTransferring hcontract hrights hor hobligations. hIn ha
hlease hsituation, htransferring hall hremaining hterms hof hthe hlease hto hsomeone helse.
Constructive hEviction h- h hcorrect hanswer- h hOccurs hwhen ha htenant his hforced hto
hleave hthe hproperty hbecause hit hhas hbecome huninhabitable.
Estate hfor hyears h- h hcorrect hanswer- h hA hleasehold hestate hthat hcontinues hfor ha
hdefinite hperiod hof htime. hThis his hthe hmost hcommon htype hof hleasehold hestate hand
husually hrequires hno hnotice hto hterminate.
Eviction h- h hcorrect hanswer- h hThe hprocess hof hremoving ha htenant hfrom hthe
hpremises hif ha hlease hagreement his hbreached. hImplemented hby hfiling ha hsuit hfor
hpossession hafter hgiving hsufficient hnotice hto hthe htenant. hThe hremoval hof ha htenant
hby ha hlandlord hbecause htenant hbreached ha hcondition hof hthe hlease.
Graduated hLease h- h hcorrect hanswer- h hAllows hfor hrent hchanges hat hset hfuture
hdates. hAlso hcalled ha hvariable hlease.
Gross hlease h- h hcorrect hanswer- h hA hlease hagreement hin hwhich hthe htenant hpays ha
hfixed hamount hof hrent hand hthe howner hpays hall hthe hexpenses hof hthe hbuilding. hThis
his hthe hmost hcommon htype hof hlease. halso hcalled hstraight hlease hor hflat hlease. hmost
hoften hused hfor hresidential hunits.
Ground hlease h- h hcorrect hanswer- h hA hlong-term hlease hof hand h( h50 hyears hor hmore)
hthat husually hrequires hthe htenant hto hconstruct ha hbuilding. hThe htenant halso hpays
hbuildings hoperating hexpenses, hthus hmaking hthe hlease ha hnet hlease. hmost hoften
hused hby hbusiness hto hlease hundeveloped hindustrial hor hcommercial hproperty.
Holdover htenancy h- h hcorrect hanswer- h hOccurs hwhen ha htenant hremains hon hthe
hproperty hafter hthe hright hto hpossess hit hhas hexpired.
Index hLease h- h hcorrect hanswer- h hA hlease hagreement hin hwhich hthe hrent hchanges
hare hbased hon hsome heconomic hindex.
Lease hagreement h- h hcorrect hanswer- h hA hlease hagreement his hboth ha hcontract hand
ha htransferring hof hownership hinterest h(the hright hof hpossession) hin hreturn hfor
