Lesson 10 Flashcards
A lease may be terminated:
If the lessor interferes with tenant’s quiet enjoyment
Which one does not have to be in writing?
Listing
The owner of real estate who leases it to another is a:
Lessor
A lease cannot be recorded unless it is acknowledged by the:
Lessee
A tenancy at will is:
Tenancy for an unspecified duraton
Transfer of a lease for the balance of the term is:
An assignment
The sublessor is MOST likely the:
Leasee
A commercial lease for a definite period of time is terminated by:
Surrender
The tenant who remains in possession after the lease expires:
Is a tenant at sufferance
An advantage offered to an investor buying a structure subject to a ground lease rather than buying the structure and the land is:
Lower Investment requirements
A landlord failed to deal with a serious rodent problem, claiming she could not afford an exterminator. A tenant could break a lease based on:
Constructive eviction
The buyer under a sale-leaseback expects:
An annuity type benefit
A percentage lease applies to:
Department store
A lease used the terms minimum rent and gross income. What kind of lease was it?
Percentage Lease
An anchor tenant’s lease in a shopping center in which rent reflects the store’s gross sales is:
Percentage Lease
Owner’s right to receive possession at termination of lease is known as:
Reversionary Right
If a commercial building is leased on an “absolute” net lease (triple net), for which of the following expenses is the lessor responsible?
Property Management Fee
A man whose wife recently died is thinking about moving to his son’s home. He is hesitant about renewing his lease at the expiration date, but if he stays on after the expiration date, he will be a:
Tenant at will
What is a; sale-leaseback?
financial transaction in which one sells an asset and leases it back for the long term; therefore, one continues to be able to use the asset but no longer owns it.
