chapter 12 Leases landlord and tenant Flashcards
(24 cards)
Agreement transferring use of real estate for period of time
Lease
designation by the Institute of Real Estate Management
Certified Property Manager
Landlord’s responsibility for decent conditions
Implied warranty of habitability
lease for a definite (clearly Stated) period of time
Estate for years
Lease under which landlord pays taxes, insurance and other expenses
Gross lease
a transfer of property by lease
Demise
tenant is forced to move because apartment becomes uninhabitable
Constructive Eviction
rental of land on which tenants erect (build) their own buildings
Ground Lease
situation when tenant remains after lease period has expired
Holdover Tenancy
suit for possession; legal removal of a tenant
Actual Eviction
Tenant
Lessee
transfer of primary responsibility for a lease to another party
Assignment
agreement given tenancy to another; original tenant still responsible.
Sublease
another term for dispossess proceeding
Summary Proceeding
landlord’s court action to evict tenant
Suit for possession
lease in which landlord shares in gross receipts of tenant’s business
percentage lease
lease in which tenant pays expenses like property taxes , insurance, and so forth
Net Lease
lease with regular rent payment and no stated ending date
Periodic Estate
landlord
Lessor
person who looks after another’s rental real estate
Property Manager
property manager’s employment agreement
management agreement
state requirements that tenants be notified of their rights
Truth in renting
tenancy that may be terminated when landlord wishes
tenancy at will
tenants remaining after lease term without landlord’s consent
tenancy at sufferance
