Leaseholds

Question 1

Four types of leaseholds

Answer 1

1. Tenancy for years
2. Periodic tenancy
3. Tenancy at will
4. Tenancy at sufferance

Question 2

Tenancy for years

Answer 2

A lease for a fixed, determined period of time
-Duration of time irrelevant
-LOOK FOR AN END DATE
-For a duration greater than one year, the lease must be in writing (S/F)

Termination
-Automatically at its end date
-Landlord can terminate if tenant fails to pay rent or if the landlord accepts the tenant’s surrender of the lease

Question 3

Periodic tenancy

Answer 3

A lease that is continuous until properly terminated
-NO END DATE = periodic tenancy

Creation
-Expressly created (i.e., L to T from month to month)
-By implication: (1) no duration, but set intervals; (2) oral term of years in violation of the S/F; or (3) holdover tenant after leases ends and landlord accepts rent

Termination
-Automatically renews unless one party gives proper (written) notice of termination
-1 week notice for week-to-week periodic tenancy
-1 month notice for month-to-month or greater periodic tenancy
-1 year notice for multi-year commercial leases

*Bar exam likes to test on 1 month notice for year-to-year lease

Question 4

Tenancy at will

Answer 4

No fixed duration and terminable at will of either party
-“To T for as long as L or T desires”

Creation
-Must be expressly created

Termination
-Can theoretically be terminated by either party at any time, but most states require reasonable notice

Question 5

Tenancy at sufferance (holdover)

Answer 5

When a tenant wrongfully remains in possession past the expiration of the lease
-Permits landlord to recover rent

Landlord’s options:
1. Evict the tenant
2. Bind the tenant to a new periodic tenancy (to not more than one year)