Chapter 16 - Landlord & Tenant Flashcards
estate at sufferance
a tenant’s occupancy of a property beyond their lease’s terms and without the landlord’s consent
estate at will
a tenant’s occupancy of a property with the landlord’s consent but without a lease
estate for years
a lease with a specific starting and ending date; aka tenancy for years
landlord (lessor)
the party granting the lease
lease
a contract in which one party conveys property to another for a specific predetermined period of time, generally in return for periodic payment
non-freehold (leasehold) estate
an interest in the occupation of a property, established through a lease, aka non-freehold or less-than-freehold
periodic estate
a leasehold estate which automatically renews until canceled by either party; aka estate from period-to-period, periodic tenancy, estate from year to year
tenant (lessee)
the party to whom the lease is granted
graduated lease
a lease in which the rental rate increases over time in specific increments
gross lease
a lease in which the tenant will be responsible for the payment of a fixed monthly charge, while the landlord is responsible for paying all operating expenses; aka full-service or fixed rental
ground lease
the lease of bare, undeveloped land; aka land lease
index lease
an agreement that also allows for a graduated increase of rent at periodic intervals relative to an economic indicator
net lease
a lease in which the tenant pays a base rent rate plus all or part of the operating expenses
percentage lease
type of (usually commercial) lease in which the tenant pays a base rent amount and a percentage of their business profits to the landlord.
assignee
a tenant who assumes the remaining lease from another person
assignor
a tenant who transfers the remaining balance of their lease to another person
assignment
the transference of rights and obligations in a contract form one party to another
novation
occurs when the original lease is terminated and a new lease is signed with a new tenant, releasing the original tenant from further liability.
privity of contract
states that contracts are only binding between the parties to a contract
privity of estate
when two or more parties hold an interest in the same real property
retaliatory eviction
a type of eviction where a landlord evicts a tenant who has asserted a legal rights against a landlord
sublease
a tenant’s transfer of part of their right of possession in a leased property to another person for a period of the lease term
summary ejectment
the legal process by which someone (a tenant) is expelled from a property and prevented from re-entry
