California Real Estate Principles Chapter 12: Landlord And Tenant Questons & Answers (SCORED A+)
lease - ANSWERSAn agreement transferring the right to exclusive possession and use of real estate for a definite period of time. To create a valid lease, the landlord (lessor) must grant the right of possession to the tenant (lessee) but retain the right to retake possession after the lease term expires. leasehold - ANSWERSThe right to hold or use property for a fixed period of time at a given price, without transfer of ownership, on the basis of a lease contract. A leasehold is a fixed asset. lessor (landlord) - ANSWERSThe person who rents or leases property to another. In residential leasing, he or she is often referred to as a landlord. lessee (tenant) - ANSWERSThe person to whom property is rented or leased; called a tenant in most residential leases. rent - ANSWERSA fixed, periodic payment made by a tenant of a property to the owner for possession and use, usually by prior agreement of the parties. Under a lease, the leasehold interest lies in the (a)lessor. (b)lessee. (c)landlord. (d)beneficiary. - ANSWERSYour answer: (B) is correct. A leasehold interest is the right to exclusive possession and use of real property for a fixed period of time held by the
Información del documento
- Subido en
- 3 de noviembre de 2023
- Número de páginas
- 12
- Escrito en
- 2023/2024
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
