Lesson 10

Question 1

A lease may be terminated:

Answer 1

If the lessor interferes with tenant’s quiet enjoyment

Question 2

Which one does not have to be in writing?

Answer 2

Listing

Question 3

The owner of real estate who leases it to another is a:

Answer 3

Lessor

Question 4

A lease cannot be recorded unless it is acknowledged by the:

Answer 4

Lessee

Question 5

A tenancy at will is:

Answer 5

Tenancy for an unspecified duraton

Question 6

Transfer of a lease for the balance of the term is:

Answer 6

An assignment

Question 7

The sublessor is MOST likely the:

Answer 7

Leasee

Question 8

A commercial lease for a definite period of time is terminated by:

Answer 8

Surrender

Question 9

The tenant who remains in possession after the lease expires:

Answer 9

Is a tenant at sufferance

Question 10

An advantage offered to an investor buying a structure subject to a ground lease rather than buying the structure and the land is:

Answer 10

Lower Investment requirements

Question 11

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:

Answer 11

Constructive eviction

Question 12

The buyer under a sale-leaseback expects:

Answer 12

An annuity type benefit

Question 13

A percentage lease applies to:

Answer 13

Department store

Question 14

A lease used the terms minimum rent and gross income. What kind of lease was it?

Answer 14

Percentage Lease

Question 15

An anchor tenant’s lease in a shopping center in which rent reflects the store’s gross sales is:

Answer 15

Percentage Lease

Question 16

Owner’s right to receive possession at termination of lease is known as:

Answer 16

Reversionary Right

Question 17

If a commercial building is leased on an “absolute” net lease (triple net), for which of the following expenses is the lessor responsible?

Answer 17

Property Management Fee

Question 18

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:

Answer 18

Tenant at will

Question 19

What is a; sale-leaseback?

Answer 19

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.