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REAL PROPERTY > Leasing > Flashcards

Leasing Flashcards

1
Q

What are the execution formalities for a lease that is for a time period of over a year?

A

Must be in writing

Must be signed in the presence of 2 subscribing witnesses.

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2
Q

What is a tenancy for years?

A

This is an estate which continues for a fixed period of time.

Generally have termination dates and lasts for a year or more.

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3
Q

What is a periodic tenancy?

A

Continues for successive periods until terminated by proper notice by T or L.

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4
Q

What is a tenancy at will?

A

Tenancy is terminable at the will of T or L.

No fixed period of duration.

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5
Q

What is a tenancy at sufferance?

A

Holdover Tenant - gives Tenant a leaseholder estate so that L can recover rent.

Last until L evicts T or gives T a new term.

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6
Q

What is created by “To T as long as T desires?”

A

A tenancy at will.

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7
Q

What is created by “Estate for Years”

A

Tenancy of years.

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8
Q

What is a special clause that can be included in residential leases?

A

May contain a clause requiring T to give LL up to 60 days notice before vacating.

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9
Q

What is the classification of a lease that is Y to Y?

A

Periodic Tenancy

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10
Q

What is the classification of a lease that is M to M?

A

Periodic Tenancy

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11
Q

Does FL recognize periodic tenancies for commercial leases?

A

No

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12
Q

If a commercial lease is set up as a periodic tenancy what results?

A

No recognized by FL Law - this results in the lease being a tenancy at will.

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13
Q

How much notice is given for residential lease of Y to Y?

A

60 days

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14
Q

How much notice is required for residential lease of quarter to quarter?

A

30 days

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15
Q

How much notice is required for residential lease of M to M?

A

15 days

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16
Q

How much notice is required for residential lease of W to W?

A

7 days

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17
Q

What results if rent is paid at intervals?

A

This is periodic tenancy as long as its a residential lease.

18
Q

Can a lease provide for liquidated damages if T fails to give notice of vacating?

A

Yes under any lease so long as LL provides written notice to T 15 days before notice period with date of termination is listed.

19
Q

What occurs if T fails to vacate with LL approval and not give 15 days notice?

A

T is responsible for the full months’ rent.

20
Q

If Rent is paid on an annual basis, what is the notice required to terminate a commercial tenancy at will?

A

3 months.

21
Q

If Rent is paid on a monthly basis, what is the notice required to terminate a commercial tenancy at will?

A

15 days

22
Q

If Rent is paid on a quarterly basis, what is the notice required to terminate a commercial tenancy at will?

A

45 days

23
Q

If Rent is paid on a weekly basis, what is the notice required to terminate a commercial tenancy at will?

A

7 days.

24
Q

What rent can be charged for a hold over period?

A

2x the current rent.

25
Q

What are tenant’s duties under a lease?

A

1) Duty to repair
2) Duty not to use the property for illegal purpose
3) Duty to pay rent

26
Q

What are the landlord’s duties under a lease?

A

1) Duty to deliver actual possession
2) Implied covenant of quiet enjoyment
3) Implied warranty of habitability (for residential only)

27
Q

What are L’s remedies if T breaches its duties?

A

1) If T is in property and not pay - evict or sue for rent.

2) If T abandons or surrenders
LL has no duty to mitigate
LL can continue to hold T liable as rent come due.
LL can take possession but must find a reasonable replacement and T pays the difference in rent.

28
Q

What are T’s remedies if L breaches its duties?

A

1) Sue
2) Leave
3) If for a violation of habitability:
- Move out and end lease
- repair and deduct from rent
- reduce and withhold rent
- remain - pay rent and sue

29
Q

When can a purchase of real property terminate a lease?

A

By giving T 30 days notice

30
Q

What are the regulations regarding a security deposit?

A

Once T leaves the property:
1) LL has 15 days to return it if no claims are made.

2) LL has 30 days to notify T in writing if it makes a claim
- T has a 15 day objection period.
- If no objection, LL must deduct the amount and remit the balance to T within 30 days of L’s initial notice.

31
Q

True or False: If Tenant does not give the required notices to vacate, then LL does not have to comply with security deposit regulations.

A

True

32
Q

What are limits on Caveat Lease?

A

1) LL must maintain common areas
2) LL duty to warn of hidden defects which LL knows of or has reason to know of.
3) Assumption of repairs: If LL undertakes repairs must do so in a reasonable manner.
4) Public use rule: LL who leases public space is liable for repairs
5) Short term furnished lease: L is responsible for all defects

33
Q

What is voluntary waste?

A

T intentionally or negligently damages or exploits the property or materials.

34
Q

What is permissive waste?

A

T fails to take reasonable steps to protect the property.

35
Q

What is ameliorative waste?

A

T alters the property increasing the value.
T pays for the cost of restoration.
T can’t remove fixtures - chattels can be removed. Fixtures cause damage.

36
Q

What are the elements of constructive eviction?

A

1) Substantial interference with T’s use of the property caused by L
2) Notice - T must provide a notice to L of the issue and L must refuse to act
3) Goodbye: T must vacate the property within a reasonable time after L recives notice of the issues.

37
Q

How is the covenant of habitability breached?

A

No heat/water/plumbing

Only applies to residential.

Cannot waive it - premises must be fit for human habitability as a dwelling.

38
Q

What is a partial condemnation?

A

LL and T relationship continues

T’s obligation to pay full rent continues.

T is entitled to a share in the condemnations award if it affects T’s rights.

39
Q

What is a total actual eviction?

A

LL or paramount title holder exclude T from the whole property.

This terminates T’s obligation to pay rent.

40
Q

What is a partial actual eviction?

A

T is only excluded from a portion of the property.

If by LL: T not required to pay rent.

If by paramount title holder: T’s rent is reduced.

REAL PROPERTY (4 decks)

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