Legal Aspects of Real Estate Chapter 14
UPDATED Exam Questions and
CORRECT Answers
Uniform Residential Landlord and Tenant Act (URLTA) - CORRECT ANSWER - •is a
model law enacted as a blueprint for state laws to regulate leasing and management practicesof
landlords with residential properties. Numerous states, including California, have enacted tenant-
landlord regulations in response to the law.
URLTA aims to - CORRECT ANSWER - •equalize and standardize rights of landlord and
tenant
•protect tenants from unethical practices
•prevent unfair, complex leases and their enforceability
•There are four basic types of leasehold estates: - CORRECT ANSWER - •Estate for
Years
•Estate from Period to Period (Periodic estate)
•Estate at Will
•Estate at Sufferance
•Estate for Years - CORRECT ANSWER - •An estate for years is one that continues for a
definite fixed period of time. The lease can be for any specified length of time measured in days,
weeks, or months.
characteristics of an estate for years - CORRECT ANSWER - •as a definite beginning and
ending date
•Not necessary to give notice to the landlord to terminate
•NO automatic renewal. When this type of lease is over, it's over.
•Commonly used with commercial leases and some apartment leases
, •Estate from Period to Period - CORRECT ANSWER - •This is more commonly referred
to as a periodic tenancy, periodic lease, or month-to-month lease. The lease continues from
period to period, which can be from year to year, month to month, or week to week. Month to
month is the most common periodic tenancy.
characteristics of an estate from period to period - CORRECT ANSWER - •Requires
proper notice to terminate - 30 days, 60 days or whatever is agreed to in the lease.
•No definite ending date. This type of lease renews itself for whatever period of time that was
called for in the original lease or whatever is agreed upon in the actual lease.
•Estate at Will - CORRECT ANSWER - •This estate has no time limit. The possession is
given with permission but there is no agreement about the rent. This estate can be terminated by
either party at any time, with proper notice.
•Estate at Sufferance - CORRECT ANSWER - •This estate is created when a tenant takes
legal possession of the property but then remains on the property without the owner's consent
after the lease terminates. A tenant who doesn't leave when the lease expires is called a holdover
tenant.
What is theUniform Residential Landlord and Tenant Act (URLTA)? - CORRECT
ANSWER - The Uniform Residential Landlord and Tenant Act (URLTA) is a model law
enacted as a blueprint for state laws to regulate leasing and management practicesof landlords
with residential properties.
Describe a lease. - CORRECT ANSWER - A lease is both an instrument of conveyance
and a contract between principal parties to uphold certain covenants and obligations. As a
conveyance, a lease conveys an interest, called the leasehold estate, but does not convey legal
title to the property.
Which type of leasehold estate is commonly referred to as periodic tenancy? - CORRECT
ANSWER - Estate from period to period
UPDATED Exam Questions and
CORRECT Answers
Uniform Residential Landlord and Tenant Act (URLTA) - CORRECT ANSWER - •is a
model law enacted as a blueprint for state laws to regulate leasing and management practicesof
landlords with residential properties. Numerous states, including California, have enacted tenant-
landlord regulations in response to the law.
URLTA aims to - CORRECT ANSWER - •equalize and standardize rights of landlord and
tenant
•protect tenants from unethical practices
•prevent unfair, complex leases and their enforceability
•There are four basic types of leasehold estates: - CORRECT ANSWER - •Estate for
Years
•Estate from Period to Period (Periodic estate)
•Estate at Will
•Estate at Sufferance
•Estate for Years - CORRECT ANSWER - •An estate for years is one that continues for a
definite fixed period of time. The lease can be for any specified length of time measured in days,
weeks, or months.
characteristics of an estate for years - CORRECT ANSWER - •as a definite beginning and
ending date
•Not necessary to give notice to the landlord to terminate
•NO automatic renewal. When this type of lease is over, it's over.
•Commonly used with commercial leases and some apartment leases
, •Estate from Period to Period - CORRECT ANSWER - •This is more commonly referred
to as a periodic tenancy, periodic lease, or month-to-month lease. The lease continues from
period to period, which can be from year to year, month to month, or week to week. Month to
month is the most common periodic tenancy.
characteristics of an estate from period to period - CORRECT ANSWER - •Requires
proper notice to terminate - 30 days, 60 days or whatever is agreed to in the lease.
•No definite ending date. This type of lease renews itself for whatever period of time that was
called for in the original lease or whatever is agreed upon in the actual lease.
•Estate at Will - CORRECT ANSWER - •This estate has no time limit. The possession is
given with permission but there is no agreement about the rent. This estate can be terminated by
either party at any time, with proper notice.
•Estate at Sufferance - CORRECT ANSWER - •This estate is created when a tenant takes
legal possession of the property but then remains on the property without the owner's consent
after the lease terminates. A tenant who doesn't leave when the lease expires is called a holdover
tenant.
What is theUniform Residential Landlord and Tenant Act (URLTA)? - CORRECT
ANSWER - The Uniform Residential Landlord and Tenant Act (URLTA) is a model law
enacted as a blueprint for state laws to regulate leasing and management practicesof landlords
with residential properties.
Describe a lease. - CORRECT ANSWER - A lease is both an instrument of conveyance
and a contract between principal parties to uphold certain covenants and obligations. As a
conveyance, a lease conveys an interest, called the leasehold estate, but does not convey legal
title to the property.
Which type of leasehold estate is commonly referred to as periodic tenancy? - CORRECT
ANSWER - Estate from period to period
