CHAPTER 8 LEASING AND PROPERTY MANAGEMENT

Question 1

___ AT ____- An estate arising when the tenant wrongfully holds over after the
expiration of the term. The landlord has the choice of evicting the tenant as a trespasser or
accepting such tenant for a similar term and under the condition of the tenant’s previous
holding. Also called a tenancy at sufferance

Answer 1

Estate at Sufferance

Question 2

____ AT ___- The occupation of lands and tenements by a tenant for an indefinite period,
terminable by one or both parties.

Answer 2

Estate at Will

Question 3

___ FOR ___- - An interest in lands by virtue of a contract of a contract for the possession
of them for a definite and limited period of time. May be for a year or less. A lease may be
said to be an estate for years.

-TYPICALLY LASTS ONE YEAR

Answer 3

Estate For Years

Question 4

___ ESTATE- A tenant’s right to occupy real estate during the term of the lease. This
is a personal property interest.

Answer 4

Leasehold Estate -

Question 5

____- - One who contracts to rent, occupy, and use property under a lease agreement; a
tenant.

Answer 5

Lessee

Question 6

____- An owner who enters into a lease agreement with a tenant; a landlord

Answer 6

Lessor

Question 7

___ESTATE- An interest in land where there is no definite termination date (FREEHOLD) but the
rental period is fixed at a certain sum per week, month, or year. Also called an estate from
period to period.

Answer 7

Periodic Estate

Question 8

Remember that under an estate for __, the lease spells out a specific time period at which point
the lease will terminate. A estate is different. With a ____ estate, there is a rental period
defined by the lease, but there is not a pre-determined lease termination date.

Answer 8

years

periodic -This type of
leasehold estate is also known as an estate from period to period, or a periodic tenancy. a month-to-month lease

Question 9

LEASEHOLD ESTATES -

___ FOR ___- A LEASEHOLD ESTATE FOR ANY SPECIFIED PERIOD OF TIME. AN ESTATE FOR YEARS DOES NOT AUTOMATICALLY RENEW

Answer 9

ESTATE FOR YEARS

Question 10

LEASEHOLD ESTATES

____ TENANCY- AKA ESTATE FROM YEAR TO YEAR, A LEASE THAT AUTOMATICALLY RENEWS FOR SUCCESSIVE PERIODS, UNLESS TERMINATED BY EITHER PARTY

Answer 10

PERIODIC TENANCY

Question 11

LEASEHOLD ESTATES
___ AT ____- AN ESTATE AT WILL DOES NOT HAVE A SET TERM PERIOD. IT IS OPEN ENDED.

• AT ESTATE AT WILL DOES NOT HAVE A SET TERM. IT IS OPEN ENDED.

CONTINUES UNITL EITHER PARTY TERMINATES THE LEASE.

Answer 11

ESTATE AT WILL

Question 12

LEASEHOLD ESTATES

___ AT ____- AN ESTATE ARISING WHEN THE TENANT WRONGFULLY HOLDS OVER AFTER THE EXPIRATION OF THE LEASE TERM.

Answer 12

ESTATE AT SUFFERANCE - IF THEY DON’T MOVE OUT, THEY ARE A HOLD OVER TENANT.

Question 13

____ - A contract between an owner and tenant, setting forth conditions upon which the
tenant may occupy and use the property and the term of the occupancy.

Answer 13

Lease -

Question 14

___ ____- The removal of a tenant by the landlord because the tenant breached a
condition of a lease or another rental contract.

Answer 14

Actual Eviction

Question 15

____ ____- Any disturbance of the tenant’s possession of the lease premises
by the landlord whereby the premises are rendered unfit or unsuitable for the purpose for
which they were leased.

Answer 15

Constructive Eviction

Question 16

___- A lease given by a lessee.

Answer 16

Sublease

Question 17

The first principle that comes with leasing real estate is ____. When someone contracts with
a property owner to lease the real estate from them, one of the benefits they are getting is the right
to possess the unit or parcel being leased.

Answer 17

possession

Question 18

A tenant’s rights and responsibilities for the property can also be terminated or modified through
the process of ____ or by subleasing the rental home or unit

Answer 18

assignment

Question 19

____ LEASES- A lease in which the lANDLORD pays all costs of operating and maintaining the
property and real estate taxes.

Answer 19

GROSS LEASE

TENANT PAYS- MONTHY RENT
LANDLORD PAYS - TAXES, INSURANCE, MAINTENANCE, AND MORTGAGE

Question 20

___ LEASE- An agreement for the use of land only, sometimes secured by improvements
placed on the land by the user

Answer 20

GROUND LEASE

Question 21

___ LEASE - A lease requiring a lessee to pay charges against the property such as taxes,
insurance and maintenance costs in addition to rental payments.

Answer 21

Net Lease

• TENANT PAYS RENT, UTILITIES, TAXES, INSURANCE, AND MAINTENANCE.
• LANDLORD PAYS - CAPITAL EXPENDITURES, MORTGAGE

double net lease
TRIPLE NET LEASES TOO

Question 22

___ ____- Lease on the property, the rental for which is determined by the amount
of business done by the lessee; usually a percentage of gross receipts from the business
with provisions for a minimum rent.

Answer 22

Percentage Lease

COMMONLY USED WITH RETAIL TENANTS.