Property Ownership, Transfer of Title & Land Use 12.3.0

Question 1

A Leasehold Estate is also known as?

Answer 1

“Less than Freehold” or Rental

Question 2

Bundle of rights that tenants posses?

Answer 2

Possession and Quiet Enjoyment

Question 3

To establish a leasehold:

Answer 3

A lease agreement is executed between two parties (the lessor and the lessee) for possession and use of a particular space, usually for a prescribed period of time.

Question 4

The owner of a lease hold estate is called the

Answer 4

Landlord or Lessor

Question 5

The tenant of a lease hold estate is called a

Answer 5

tenant or lessee

Question 6

Once the lease is over, the owner gets possession of the property back and this is called

Answer 6

reversionary right

Question 7

Will a lease survive the death or the landlord and sale of a property?

Answer 7

Yes