UNIT 6 - REAL ESTATE CONTRACTS

Question 1

reversionary right

Answer 1

the right of the landlord to reclaim the property (after the lease term expires)

Question 2

ground lease

Answer 2

lease for only the land

Question 3

proprietary lease

Answer 3

lease co-op apartment buildings

Question 4

gross lease

Answer 4

tenant pays fixed rent. landlord pays any other expenses, such as taxes, maintenance, or insurance

Question 5

net lease

Answer 5

tenant pays fixed sum as rent, plus certain agreed upon expenses per month.

Question 6

percentage lease

Answer 6

tenant pays a percentage of gross monthly receipts in addition to a base rent

Question 7

pre-move-out inspection

Answer 7

tenants have the right to a pre-move-out inspection, no earlier than two weeks prior to the termination of the tenancy.

Question 8

sandwich lease

Answer 8

when you sublease

Question 9

constructive eviction

Answer 9

implied eviction in which the landlord’s act or omission justifies the immediate departure of the tenant.

Question 10

constructive eviction

Answer 10

implied eviction in which the landlord’s act or omission justifies the immediate departure of the tenant.

Question 11

unlawful detainer action

Answer 11

a lawsuit to remove an unlawful holdover tenant, and return the rental unit to its owner

Question 12

assignment (lease)

Answer 12

transfer the entire leasehold estate to a new person (assignee)

Question 13

implied warranty of habitability

Answer 13

property will be maintained to meet bare living requirements