Leasehold Flashcards

1
Q

What is a lease?

A

Grant of exclusive possession to a tenant for either a determined period or indefinite period. Tenant returns the property to its owner. Tenants gain possessory interests or “right to possess real property: use rights and excluding others right, including the landlord”.

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2
Q

What are the landlord’s rights?

A

1) Right to decide to enter into the lease
2) Economic benefit: Right to receive rent money
3) Right to sell the property
4) Right to resume ownership after tenant leaves
5) Remedies for landlord: Eviction proceedings
6) Right to protect the value of the property

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3
Q

What are the tenants rights?

A

1) Use (right to quiet enjoyment)
2) Right to exclude others (including Landlord)

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4
Q

Does the lease have to be in writing?

A

Can be oral but because statute of frauds requires certain contracts to be in writing. Residential sale has to be in writing. Contracts that are longer than 1 year to perform must be in writing.

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5
Q

What are Licensee rights?

A

Only a lease can be exclusive to the use of the renter unlike a license. Paying rent does not make a licensee into a leasee. Rights are determined by contract and are not related to the covenant of quiet.

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6
Q

What are some examples of Licensee?

A

1) guest in home (sleeping on couch)
2) Airbnb guests
3) Hotel guests
4) Student in a dorm
5) Contractor

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7
Q

What is some tenant remedies?

A

Modern remedy for breach of covenant of quiet enjoyment match that of implied warranties:
1) Move out and cancel lease - Tenant can not pay rent, may be able to get expectation damages when mitigating to move elsewhere and rent elsewhere have increased
2) withhold rent - stop paying rent and wait for landlord to sue you and then you raise implied warranty defense
3) repair/deduct - a lot os states allow tenants to use repair and deduct method, take money our of rent to fix themselves
4) stay & sue for damages - can use as cause of action to sue for damages or seek injunction.

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8
Q

Leasehold

A

Tenant gets exclusive possession of landlord property. If lease is longer than a year then it must be in writing. Sometimes modified to 3 years.

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9
Q

List common tenant breaches

A

1) Not paying rent (either moved out or still living there)
2) causing damage to property
3) not following a clause in contract

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10
Q

Eviction can only be ordered by?

A

THE COURT

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11
Q

What is implied warranty of Habitability?

A

Requirement to provide sanitary, safe, and inhabitable living arrangements. examples: black mold, no heat in cold region during winter, burst pipe.

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12
Q

What is covenant of quiet enjoyment

A
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