Unit 17: Leases Flashcards

1
Q

A ______ is a contract between a lessor and lessee

A

Lease

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2
Q

The lessor is the…

A

Owner.

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3
Q

The lessee is the…

A

Tenant

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4
Q

Tenancy for years is a…

A

Leasehold estate that continues for a definite period

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5
Q

Tenancy for years has specific…

A

Starting an end dates

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6
Q

No notice is required to terminate in a…

A

Tenancy for years

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7
Q

Created when the landlord and tenant enter into an agreement for an indefinite time that is, the lease does not contain a specific expiration date is a….

A

period to period tenancy

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8
Q

Tenancy from period to period can be

A

Month to month, week to week, or year to year

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9
Q

Gives the tenant the right to possess property with the landlords consent for an unspecified or uncertain term

A

Tenancy at will

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10
Q

Arises when a tenant who lawfully took possession of real property, continues in possession of the premises without the landlords consent after the right of possession has expired

A

Tenancy at sufferance

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11
Q

In a blank of a lease, a tenant transfers, the entire leasehold interest to another person

A

Assignment

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12
Q

Under a blank, a tenant transfers less than the entire lease, hold interest by sublet the premises to a new tenant

A

Sublease

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13
Q

In a blank, the tenant pays a fixed rent and some or all of the utility expenses, while the landlord pays all taxes, insurance, repairs, any other utility expenses, and maintenance connected with the property.

A

Gross lease

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14
Q

In a blank, the tenant pays all or most of the property expenses, such as hazard insurance, property, taxes, and – or common area maintenance charges, in addition to the rent

A

Net lease

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15
Q

Either a gross lease or a net lease may be a…

A

Percentage lease

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16
Q

A blank provides for specified rent increases at future dates.

A

Graduated lease

17
Q

A blank allows, rent to be increased or decreased periodically based on changes in the consumer price index or some other other indicator.

A

Index lease

18
Q

When a landowner leases unimproved land, it is usually called a

A

Ground lease

19
Q

Ground leases are generally…

A

Net leases

20
Q

Oil and gas lease are…

A

Mineral rights

21
Q

In a blank, the property owners sell the property and then lease it back for an agreed period and rental.

A

Sale and lease back

22
Q

When a tenant breaches a lease or improperly, retains leased premises, the landlord may regain possession through a legal process, known as…

A

Actual eviction

23
Q

If the least premises becomes unusable, for the purpose stated in the lease, the tenant may have the right to abandoned the unit. This is also called…

A

Constructive eviction

24
Q

To claim constructive eviction, the tenant must blank the premises while the conditions that made the premises uninhabitable exist

A

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