Leasehold Estates Flashcards
Four Leasehold Estates
- The tenancy for years
- The periodic tenancy
- The tenancy at will
- The tenancy at sufferance
Tenancy for Years Definition
A lease for a fixed, determined period of time
Termination of a Tenancy for Years
Ends automatically at its termination date. No notice needed.
Creating a Tenancy for Years
Usually created by written leases. A term of years greater than one year must be in writing (SoF)
Periodic Tenancy Definition
A lease which continues for successive intervals (for example, month to month) until either the landlord or the tenant gives proper notice of termination.
It is continuous until properly terminated.
Creation of a Periodic Tenancy
Express: The periodic tenancy can be created expressly
By Implication/Operation of Law (three ways):
- Land is leased with no mention of duration, but provision is made for the payment of rent at set intervals.
- An oral term of years that violates the SoF creates an implied periodic tenancy, measured by the way rent is tendered.
- If a Landlord elects to hold over a tenant who has wrongfully stayed after the expiration of their lease, creates an implied periodic tenancy measured by the way rent is now tendered.
Termination of a Periodic Tenancy
Notice of termination must be given, otherwise it is automatically renewed.
Common Law: Notice must be at least equal to the length of the period itself, unless otherwise agreed.
A year-to-year lease only requires one month under the restatement, but six months at CL.
Tenancy at Will Definition
A tenancy of no fixed period of duration, terminable at the will of either party.
“To T for as long as L or T desires.”
How to Terminate a Tenancy at Will
Most states require notice and a reasonable time to vacate to terminate a tenancy at will
How to create a tenancy at will
Must be created by express agreement.
If not, a court to treat it as an implied periodic tenancy
Tenancy at Sufferance Definition
A tenancy at sufferance is created when a tenant wrongfully remain in possession of property past the expiration of the lease, and the landlord continues to recover rent from them
How to Terminate a Tenancy at Sufferance
It last only until the landlord either evicts the tenant or holds the tenant to a new tenancy.
No notice of termination is required.
