REAL PROPERTY #4 Flashcards
THE 2 types of estates in Land are called Freehold and
Less than free hold estates
Freehold estates means ownership, estate less than frreehold means
RENTAL
Another name for an estate less than freehold is
LEASE HOLD ESTATES
Estates less than freehold are considered to be
PERSONAL PROPERTY
The holder of an estate less than freehold is called
the lessee
During the life of an estate less than freehold, the landord is said to hold a
Reversion interest in the property: The right to regain possession of the property at the end of the lease period.
The landlord’s right to regain possession at the end of a lease is called
Reversion Interest
A leasehold estate that has a specific starting and ending date is called
‘Estate for years”
The duration of an estate for years
Can be any length
A lease which is automatically renewed for a period of equal to the initial lease duration is called
A periodic Estate
another name for a periodic estate is
Estate from year - to -year
a month to month apartment lease is an example of a
Periodic estate
A lease which may e terminated by either party at any time is called
Estate at Will
Another name for an Estate at will is
Tenancy at Will
When a tenant remains in possession of leased property beyond his legal tenancy and against the owner’s will it is called
Tenancy at Sufferance
