Chapter 12; Leases, Landlord And Tenant. Key Terms Part 1 Flashcards Preview

Real estate license study > Chapter 12; Leases, Landlord And Tenant. Key Terms Part 1 > Flashcards

Flashcards in Chapter 12; Leases, Landlord And Tenant. Key Terms Part 1 Deck (12):
1

Actual evection

Suit for possession; legal removal of a tenant.

2

Assignment

Transfer of primary responsibility for a lease to another party.

3

Certified property manager

A designation by the Institute of real estate.

4

Constructive evection

A tenant is forced to move because the apartment becomes uninhabitable.

5

Demise

A transfer of property by lease.

conveyance or transfer of property or a title by demising.

LAW: convey or grant (an estate) by will or lease.

6

Estate for years

A lease for definite of time.

7

Gross lease

A lease under which landlord pays taxes, insurance, and other expenses. Example: a person's rent.

8

Ground lease

A rental of land on which tenants direct their own buildings. These leases typically are very long time 50, 100, 1000 years.

9

Holdover tenancy

A situation when a tenant remains after a lease period has expired.

10

Implied warranty of habitability

A landlords responsibility for decent conditions.

11

Lease

An agreement transferring use of real estate for a period of time. This is usually considered personal property for that period of time.

12

Leesee

This is the tenant, not the owner.