Landlord Tenant - 1 Flashcards
What are the three types of leasehold estates?
1.
2.
3.
- Term of years
- Periodic Tenancy
- Tenancy at Will
How many types of leasehold estates are there?
3
A _________________ is an estate that lasts for: some fixed period of time OR for a period computable by a formula that results in fixing calendar dates for beginning and ending, once the term is created or becomes possessory.
Term of Years
A term of years is an estate that lasts for some ________ ________ ________ _______ OR for a period computable by a formula that results in fixing calendar dates for beginning and ending, once the term is created or becomes possessory.
fixed period of time
A term of years is an estate that lasts for some fixed period of time OR for a period computable by a formula that results in fixing __________ _______ for __________ and __________, once the term is created or becomes possessory.
calendar dates
beginning and ending
A term of years lease lasts for a _____________________________________.
fixed period of time measured by the calendar.
A ___________________________ lease lasts for a fixed period of time measured by the calendar.
term of years
Could be one day or thousands of years. At common law there was no limit on the number of years permitted. Some states have statutes that limit it.
Term of Years
__________________ is a period of time measured by the calendar and has a finite beginning and finite end.
Term of years
Term of years is a period of time measured by the calendar and has a finite __________ and finite ______.
beginning and end
Is notice of termination necessary for a term of years lease?
No notice of termination is necessary to bring the estate to an end because the term of years states from the beginning when it will end.
No notice of termination is necessary to bring the estate to an end because the term of years states from the beginning when it will end. What type of leasehold estate?
Term of Years
_____________ ___________ a lease for a recurring term that continues for succeeding periods until either the landlord or tenant gives notice of termination.
Periodic Tenancy
Periodic tenancy is a lease for a ________ ______ that continues for _________ _________ until either the landlord or tenant gives notice of termination.
recurring term
succeeding periods
Periodic tenancy is a lease for a recurring term that continues for succeeding periods until either the ___________ or ___________ gives ____________ of ____________.
landlord
tenant
notice of termination
Examples:
Year- to- year
Month-to-month
Periodic Tenancy
Tricky part is that if notice isn’t given in a timely manner, it will automatically extend for a whole other term.
Periodic Tenancy
Tricky part is that if notice isn’t given in a timely manner, it will automatically extend for a whole other term. You have to be careful to know what your ___________ ____________ are in your lease because you don’t want to be stuck there for additional time if you were intending to move.
notice provisions
For purposes of determining the “period” of a periodic tenancy, the rule is:
Majority Rule:
The period is determined based upon the manner in which rent is RESERVED.
Rent is reserved on an annual basis.
For purposes of determining the “period” of a periodic tenancy, the rule is:
Minority Rule:
The period is determined based upon the manner in which rent is PAID.
Rent is paid on a monthly basis.
Periodic Tenancy Majority:
Year-to-year
Periodic Tenancy Minority:
Month-to-Month
For a Periodic Tenancy when must notice be given in order to be effective?
If the lease specifies a time for giving notice, the lease terms will govern (unless the court finds that the time specified is unreasonable). But, if the lease is silent on this point… at common law there is majority and minority
For a Periodic Tenancy when must notice be given in order to be effective?
If the lease specifies a time for giving notice, the lease terms will govern (unless the court finds that the time specified is unreasonable). But, if the lease is silent on this point… At Common Law:
Month-to-month:
requires one month advanced notice, with the effective date of the notice being the last day of the term.
______________________: requires one month advanced notice, with the effective date of the notice being the last day of the term.
month-to-month periodic tenancy