12 Review Flashcards
A lease conveys exclusive use and
it may also restrict some uses.
Mark earns $185,000 a year and he pays $2,600 per month for a rent-stabilized apartment. Which statement is true?
The apartment can be decontrolled.
A lease conveys an interest called
The leasehold estate
In which contract section might you find the property address?
Description of the Premises
Which part of a contract deals with the legal requirements to enter into a contract?
Capacity to Contract
Most apartment leases are
estates from period to period.
A lease is
both an instrument of conveyance and a contract.
In which provision would a landlord describe what activities can take place on the property?
Use of the Premises
Constructive eviction occurs when
The landlord defaults on the lease terms.
Bill has informed his landlord that he will be moving in 30 days. What action has Bill taken regarding his lease requirement?
He has given notice.
Under which of the following conditions does a lease remain in effect?
The property is sold.
Mary has remained in her apartment two weeks past her move-out date, without any payment. What type of tenant is Mary?
Holdover tenant
Which of the following is NOT a basic leasehold estate?
Temporary Estate
Which lease is typically a long-term lease with terms ranging from 30 to 50 years?
Ground lease
Which aspect of a contract deals with when a tenant takes possession of the property?
Demising Clause
