UNIT 18 Leasehold Estates

Question 1

extinguish

[ɪk’stɪŋgwɪʃ]

Answer 1

юр. выплачивать, погашать; аннулировать

Question 2

A lease

Answer 2

A lease is a contract between a lessor (the owner of real estate, or landlord) and a lessee (the tenant). A lease transfers the lessor’s rights to exclusive posses- sion and use of the property to the tenant for a specified period of time and estab- lishes the consideration the lessee is to pay rent for use of the property. Rent is a fixed, periodic payment made by a tenant of a property to the owner for possession and use, usually by prior agreement of the parties. Other rights and obligations of the parties are also set forth.

Question 3

reversionary right

Answer 3

The landlord retains a reversionary right to posses- sion after the lease term expires.

Question 4

leasehold (less-than-freehold) estate

Answer 4

A tenant’s right to possess real estate for the term of the lease is called a leasehold (less-than-freehold) estate. A leasehold is generally considered personal property. When the tenant assumes many of the landowner’s obligations under a lease for life or for more than 49 years, certain states give the tenant some of the benefits and privileges of ownership, such as the right to use the leasehold interest as secu- rity for a loan.

Question 5

An estate (tenancy) for years

Answer 5

An estate (tenancy) for years is a leasehold estate that con- tinues for a definite period. That period may be years, months, weeks, or even days. An estate for years (sometimes called an estate for term) always has specific starting and ending dates. When the estate expires, the lessee is required to vacate the premises and surrender possession to the lessor. No notice is required to terminate the estate for years because the lease agreement states a specific expiration date.

Question 6

continuity

[ˌkɔntɪ’njuːətɪ]

Answer 6


сущ.
1) непрерывность, неразрывность, целостность, связность

Question 7

An estate (tenancy) from period to period

Answer 7

An estate (tenancy) from period to period, or periodic tenancy, is 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. Such a tenancy is created initially to run for a definite amount of time—for instance, month to month, week to week, or year to year—but the tenancy con- tinues indefinitely until proper notice of termination is given. Rent is payable at definite intervals. A periodic tenancy is characterized by continuity because it is automatically renewable under the original terms of the agreement until one of the parties gives notice to terminate

Question 8

An estate (tenancy) at will

Answer 8

An estate (tenancy) at will gives the tenant the right to possess property with the landlord’s consent for an unspecified or uncertain term. An estate at will is a tenancy of indefinite duration; it continues until it is terminated by either party giving proper notice. No initial period of occupancy is specified, as is the case in a periodic tenancy. An estate at will is automatically terminated by the death of either the landlord or the tenant.

Question 9

evict

Answer 9

выселять; удалять; изгонять, высылат

Question 10

stipulate

[‘stɪpjəleɪt] 

Answer 10

гл.
1) ставить условием, обусловливать, оговаривать в качестве особого условия(stipulate for
) требовать

Question 11

consent

[kən’sent]

Answer 11


1. сущ.
1) согласие
позволение, разрешение

Question 12

sufferance

[‘sʌf(ə)r(ə)n(t)s] 

Answer 12

сущ.
1) терпеливость, терпение
позволение, разрешение

Question 13

surrender

Answer 13

юр. отказываться от права

Question 14

capacity

[kə’pæsətɪ]

Answer 14

способность

mental capacity умственные способности

Question 15

objective

Answer 15

цель; стремление

Question 16

mutual

[‘mjuːʧuəl], [-tjuəl] 

Answer 16

прил.

1) взаимный, обоюдный

Question 17

An estate (tenancy) at sufferance

Answer 17

An estate (tenancy) at sufferance arises when a tenant who lawfully took possession of real property continues in possession of the prem- ises without the landlord’s consent after the right of possession has expired

Question 18

Estate (tenancy) for

years

Answer 18

Estate (tenancy) for
years
■■ Any definite period

Question 19

Estate from period to period (periodic tenancy):

Answer 19

Estate from period to period (periodic tenancy):
■■ Indefinite term
■■ Automatically renewing

Question 20

Estate (tenancy) at will:

Answer 20

Estate (tenancy) at will:
■■ Indefinite term
■■ Possession with land-
lord’s consent

Question 21

Estate (tenancy) at sufferance:

Answer 21

Estate (tenancy) at sufferance:
■■ Tenant’s previously lawful
possession continues without landlord’s consent

Question 22

A nondisturbance clause

Answer 22

A nondisturbance clause is included in the financing instrument used to mort- gage leased premises. By accepting this provision, the mortgagee agrees not to terminate the tenancy of the lessee(s), so long as the lessee is current in payment of the required rent, should the mortgagee foreclose on the mortgagor’s building.

Question 23

a renewal option

Answer 23

A lease may contain a clause that grants the lessee the privilege of renewing the lease (called a renewal option). The lessee must, however, give notice of intent to exercise the option.

Question 24

called a purchase option

Answer 24

Some leases grant the lessee the option to purchase the leased premises (called a purchase option)

Question 25

a right of first refusal

Answer 25

The lease might also contain a right of first refusal that allows the tenant the opportunity to buy the property before the owner accepts an offer from another party

Question 26

gross lease

Answer 26

In a gross lease, 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 (usually called property charges or operating expenses).

Question 27

net lease,

Answer 27

In a net lease, the tenant pays all or most of the property expenses, such as hazard insurance, property taxes, and/or common area maintenance (CAM) charges, in addition to the rent

Question 28

a percentage lease

Answer 28

Either a gross lease or a net lease may be a percentage lease. This type of lease is generally used for retail business leases.he rent is based on a minimum fixed rental fee plus a percentage of the gross income received by the tenant doing business on the leased property. The percentage charged is negotiable and varies depending on the nature of the business, location of the property, and general economic conditions.

Question 29

A graduated lease

Answer 29

A graduated lease provides for specified rent increases at set future dates.

Question 30

An index lease

Answer 30

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

Question 31

sale-and-leaseback

Answer 31

n a sale-and-leaseback, the property owners sell the property and then lease it back for an agreed period and rental. The original own- ers pull out their equity to use on other projects and are also able to reduce their taxable income when they pay rent to the new owner. The new owner has a reli- able source of rental income for an extended time.

Question 32

sufficient

[sə’fɪʃ(ə)nt] 

Answer 32

1. прил.

достаточный; обоснованный

Question 33

ambiguity

[ˌæmbɪ’gjuːɪtɪ] 

Answer 33

сущ.

1) неопределённость, неясность; двусмысленность

Question 34

preliminary
[prɪ’lɪmɪn(ə)rɪ] 
1. сущ.

Answer 34

1) преим. (preliminaries)

а) подготовительное, предварительное мероприятие

Question 35

mitigate

[‘mɪtɪgeɪt] 

Answer 35

гл.

1) смягчать, уменьшать

Question 36

clause

[klɔːz] 

Answer 36

1. сущ.

1) статья, пункт, условие; оговорка

Question 37

eviction

[ɪ’vɪkʃ(ə)n]

Answer 37

сущ.
1) юр.
а) возвращение имущества по суду
б) лишение собственности по суду; эвикци

Question 38

constructive eviction

Answer 38

If the leased premises become unusable for the purpose stated in the lease, the tenant may have the right to abandon them. This action, called constructive eviction, terminates the lease agreement.

Question 39

ctual eviction

Answer 39

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

Question 40

mortgagor

Answer 40

barrower, gives paper to bank to get money

Question 41

mortgagee

Answer 41

lender, relieves the money

Question 42

distrain
[dɪ’streɪn]
гл.; юр.

Answer 42

накладывать арест на имущество в обеспечение долга

Question 43

alienation

Answer 43

юр. отчуждение (имущества)

Question 44

retaliation

[rɪˌtælɪ’eɪʃ(ə)n] 

Answer 44

сущ.

1) воздаяние, возмездие, кара; отплата, расплата

Question 45

fee

Answer 45

абсолютное право собственности

Question 46

at smb.’s discretion

Answer 46

— на чьё-л. усмотрение

Question 47

encumber

[ɪn’kʌmbə], [en-] 

Answer 47

гл.
1) загромождать
The stage was encumbered with musical instruments. — Сцена была сплошь заставлена музыкальными инструментами.
Syn:
block up
2) усложнять
Syn:
complicate
3) задерживать, затруднять, мешать, препятствовать, стеснять
Syn:
hinder, prevent, prohibit, hamper, embarrass
4) обременять (долгами, моральными обязательствами)

Question 48

ingress

[‘ɪngres]

Answer 48

LingvoUniversal (En-Ru)

сущ.
1)
а) вход, вхождение

Question 49

egress
1. [‘iːgres] 
сущ.

Answer 49

1)

а) выход; выезд;