Property Ownership, Transfer of Title & Land Use 12.3.1 Flashcards
1
Q
How many types of Leasehold Estates are there? and what are their names?
A
Estate for years
Periodic Estate
Estate at will
Estate at Sufferance
2
Q
An Estate for Years has?
A
Definite commencement and termination dates and there is no notice required to vacate.
3
Q
Under an Estate for years
A
The tenant is expected to leave when the lease is up unless other arrangements have been made.
Even though this estate is referred to as “for years” it can be for a period of time shorter than a year.
Estates for Years are used for both commercial and residential properties
