Leases - Need To Know

Question 1

What happens when a tenant holds over wrongly or illegally?

Answer 1

Tenancy in sufferance, or holdover tenant.

Question 2

Who is protected in a non-disturbance clause in a loan?

Answer 2

Lessee

Question 3

What happens to a lease when a property is sold?

Answer 3

Nothing, the lease stays in force

Question 4

What type of commercial lease requires a flat amount of monthly rent plus percentage of gross sales?

Answer 4

Percentage lease

Question 5

What would protect a tenant from a lessor’s desire to terminate the lease?

Answer 5

Tenancy for years

Question 6

A holdover tenant is one who:

Answer 6

Remains in possession of a leasehold beyond the expiration of their lease.

Question 7

A lease that requires increases of rent at regular intervals is called a ________

Answer 7

Graduated lease

Question 8

A tenant is released from the obligation to pay rent if:

Answer 8

The tenant is constructively evicted
Or
The property is condemned for health reasons.

Question 9

If you were buying an investment property, what number would be most useful in making a wise decision?

Answer 9

NOI

Question 10

Define:

Tenancy for years

Answer 10

A lease that has a definite beginning and expiration date despite the length of the term.

Question 11

For a tenant to successfully constructively evict, the tenant must:

Answer 11

Vacate the premises.