Unit 17 Flashcards
A lease is a contract between
lessor and lessee.
Two common forms of eviction are
constructive and actual.
A lease agreement that specifies an end date for tenancy and does not require advanced notice to terminate is
an estate for years.
At the termination of a rental agreement,
the lease is discharged.
When a tenant holds possession of a landlord’s property without a current lease agreement and without the landlord’s approval,
the landlord can file suit for possession.
To be valid, a lease must meet the same essential elements as any other contract, which are
capacity to contract, legal objective, offer and acceptance, and consideration.
A lessee who pays some or all of the property expenses, such as hazard insurance and property tax, has
a net lease
A lease in which a commercial tenant’s rent amount stays the same for the term of the lease, and the tenant pays only rent to the landlord is what type of lease?
Gross
A contract that conveys the right to use and possess the property for a period of time without transferring ownership is
a lease.
Which of the following describes a net lease?
A lease in which the tenant pays rent, plus some—or most—of the operating expenses related to the property
When a tenant breaches a lease or improperly retains possession of the premises, the landlord may regain possession through the legal process called
actual eviction.
Which type of leasehold estate lasts for a definite period of time and then ends?
Estate for years
If leased premises become unusable for the purpose stated in the lease, the tenant may have the right to abandon the property and sue and recover damages against the landlord in a legal action called
constructive eviction.
A tenant’s right to possess real estate for a definite period with a specific starting and ending date is
an estate for years.
Which of the following would automatically terminate a residential lease?
Destruction of the property
Leases that run for 100 years or more
are prohibited in some states.
If a tenant moved out of a rented store building because access to the building was blocked as a result of the landlord’s negligence,
the tenant may be entitled to recover damages from the landlord.
A tenant rents an apartment under a two-year written lease. Three months after signing the lease, the tenant is transferred to another country for a year. During this period, the tenant leases the apartment to a friend. The friend mails monthly rent checks to the tenant, who continues to make monthly rental payments to the landlord. In this situation, the tenant’s friend has
a sublease.
If the lease covers land, such as a ground lease,
a legal description should be used.
