Chp. 12 Quiz - Leases Flashcards
Which kind of lease increases at specified intervals?
Graduated
When rent control is in effect, under what conditions may a landlord increase rent?
The landlord installs central air conditioning in the building.
Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. During this interim period, Grant makes monthly rent payments and the owner accepts them. How would Grant’s lease at this time be classified?
Estate from period to period
In which contract section might you find the property address?
Description of the Premises
Which of these items is not included in a lease agreement?
Alienation clause
Which of the following is NOT one of the eight essential covenants of a New York lease?
Property inspection schedule
Which of the following is a characteristic of land leases?
Inherently long-term leases
Which aspect of a contract deals with when a tenant takes possession of the property?
Demising Clause
Which type of lease involves a holdover tenant?
Estate at Sufferance
A lease conveys an interest called
The leasehold estate
Which lease is typically a long-term lease with terms ranging from 30 to 50 years?
Ground lease
Which statement best defines the concept of “quiet enjoyment?”
A landlord’s obligation to provide the tenant with reasonable privacy and freedom from interference
Which lease is common for office properties?
Gross lease
What is one important difference between a sublease and a lease assignment?
In a sublease, the original tenant retains primary responsibility for performance of the original lease contract.
Which lease is used with a cooperative?
Proprietary lease
