1. Leasehold Estate ANS >> A tenant's right to occupy real estate during the
term of a lease, generally considered to be a personal property interest.
2. estate at will ANS >> A leasehold estate that runs for an indefinite term, giving the
lessee the right to possession of the leased premises until the estate is terminated
by either party.
3. assignment ANS >> The transfer in writing of interest in a bond, mortgage,
lease, or other instrument.
4. lease ANS >> A written or oral contract between a landlord (the lessor) and a
tenant (the lessee) that transfers the right to exclusive possession and use of the
landlord's real property to the lessee for a specified period of time and for a stated
consideration (rent). By state law, leases for longer than a certain period of time
(generally one year) must be in writing to be enforceable.
5. Estate for years ANS >> a leasehold estate that runs for a certain, exact period
of time for a specified consideration
6. holdover tenancy ANS >> A tenancy whereby a lessee retains possession of
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, leased property after the lease has expired and the landlord, by continuing to
accept rent, agrees to the tenant's continued occupancy as defined by state law.
7. lessee ANS >> tenant
8. Lessor ANS >> landlord
9. estate from period to period ANS >> A lease with a specific expiration date
and the potential of automatic renewal without notice
10. Actual Eviction ANS >> The result of legal action, originated by a lessor,
whereby a defaulted tenant is physically ousted from the rented property
pursuant to a court order.
11. cash rent ANS >> as opposed ti sharecropping, a system under which the
tenant who farms pays an agreed-upon sum as rent to the landlord
12. Constructive Eviction ANS >> Actions of a landlord that so materially disturb or
impair a tenant's enjoyment of the leased premises that the tenant is effectively
forced to move out and terminate the lease without liability for any further rent.
13. Constructive Eviction Elements ANS >> SING
1. SI = substantial interference due to L's actions or failure to act
2. N = notice, and L fails to respond meaningfully
3. G = goodbye - leave w/in a reasonable time after L fails to fix
NOTE ANS >> L is not liable for acts of other tenants, EXCEPT (1) L must not permit
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, nuisance, and (2) L must control common areas
14. Covenant of Quiet Enjoyment ANS >> the promise, implied by law, by which
the landlord guarantees that the tenant may take possession of the leased
premises and that the landlord will not interfere with possessory rights
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, 15. distraint ANS >> A landlord's right to seize possession of a tenant's property
and hold it for rent when the tenant has defaulted on the rent ( most often requires
court order and is just changing the locks and giving notice)
16. Estate at Sufferance ANS >> The tenancy of a lessee who lawfully comes into
posses- sion of a landlord's real estate but who continues to occupy the premises
after the lease has expired against the landlord's wishes.
17. Gross Lease ANS >> A lease of property under which a landlord pays all
property charges regularly incurred through ownership, such as repairs, taxes, and
insurance.
18. ground lease ANS >> A lease of land only, on which the tenant usually owns a
building or is required to build as specified in the lease. Such leases are usually
long-term net leases; the tenant's rights and obligations continue until the lease
expires or is terminated through default.
19. lease-option ANS >> A contract that allows the tenant the right, if he or she so
chooses, to purchase at a given price within a given period of time. The tenant is
not bound to buy, but if the option is exercised, the seller must sell.
20. lease purchase ANS >> An arrangement by which the purchaser moves in as
tenant pending a completed purchase, for which there is usually a firm contract
21. Month-to-Month Tenancy ANS >> A periodic tenancy under which the tenant
rents for one month at a time. In the absence of a rental agreement (oral or written),
a tenancy is generally considered to be month to month.
22. net lease ANS >> A lease requiring the tenant to pay, in addition to a fixed rent
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term of a lease, generally considered to be a personal property interest.
2. estate at will ANS >> A leasehold estate that runs for an indefinite term, giving the
lessee the right to possession of the leased premises until the estate is terminated
by either party.
3. assignment ANS >> The transfer in writing of interest in a bond, mortgage,
lease, or other instrument.
4. lease ANS >> A written or oral contract between a landlord (the lessor) and a
tenant (the lessee) that transfers the right to exclusive possession and use of the
landlord's real property to the lessee for a specified period of time and for a stated
consideration (rent). By state law, leases for longer than a certain period of time
(generally one year) must be in writing to be enforceable.
5. Estate for years ANS >> a leasehold estate that runs for a certain, exact period
of time for a specified consideration
6. holdover tenancy ANS >> A tenancy whereby a lessee retains possession of
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, leased property after the lease has expired and the landlord, by continuing to
accept rent, agrees to the tenant's continued occupancy as defined by state law.
7. lessee ANS >> tenant
8. Lessor ANS >> landlord
9. estate from period to period ANS >> A lease with a specific expiration date
and the potential of automatic renewal without notice
10. Actual Eviction ANS >> The result of legal action, originated by a lessor,
whereby a defaulted tenant is physically ousted from the rented property
pursuant to a court order.
11. cash rent ANS >> as opposed ti sharecropping, a system under which the
tenant who farms pays an agreed-upon sum as rent to the landlord
12. Constructive Eviction ANS >> Actions of a landlord that so materially disturb or
impair a tenant's enjoyment of the leased premises that the tenant is effectively
forced to move out and terminate the lease without liability for any further rent.
13. Constructive Eviction Elements ANS >> SING
1. SI = substantial interference due to L's actions or failure to act
2. N = notice, and L fails to respond meaningfully
3. G = goodbye - leave w/in a reasonable time after L fails to fix
NOTE ANS >> L is not liable for acts of other tenants, EXCEPT (1) L must not permit
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, nuisance, and (2) L must control common areas
14. Covenant of Quiet Enjoyment ANS >> the promise, implied by law, by which
the landlord guarantees that the tenant may take possession of the leased
premises and that the landlord will not interfere with possessory rights
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, 15. distraint ANS >> A landlord's right to seize possession of a tenant's property
and hold it for rent when the tenant has defaulted on the rent ( most often requires
court order and is just changing the locks and giving notice)
16. Estate at Sufferance ANS >> The tenancy of a lessee who lawfully comes into
posses- sion of a landlord's real estate but who continues to occupy the premises
after the lease has expired against the landlord's wishes.
17. Gross Lease ANS >> A lease of property under which a landlord pays all
property charges regularly incurred through ownership, such as repairs, taxes, and
insurance.
18. ground lease ANS >> A lease of land only, on which the tenant usually owns a
building or is required to build as specified in the lease. Such leases are usually
long-term net leases; the tenant's rights and obligations continue until the lease
expires or is terminated through default.
19. lease-option ANS >> A contract that allows the tenant the right, if he or she so
chooses, to purchase at a given price within a given period of time. The tenant is
not bound to buy, but if the option is exercised, the seller must sell.
20. lease purchase ANS >> An arrangement by which the purchaser moves in as
tenant pending a completed purchase, for which there is usually a firm contract
21. Month-to-Month Tenancy ANS >> A periodic tenancy under which the tenant
rents for one month at a time. In the absence of a rental agreement (oral or written),
a tenancy is generally considered to be month to month.
22. net lease ANS >> A lease requiring the tenant to pay, in addition to a fixed rent
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