Flashcards in Chapter 12- Leases: Landlord & Tenant Deck (7)
An owner of real estate leases to a tenant transfers the right to possession and use of the owner’s property for a specified period of time.
The transfer of property by lease.
1) Estates for years
2) Periodic estate or estate from period to period.
3) Tenancy at will
4) Tenancy at sufferance.
Estate for Years
A leasehold estate that continues for a definite period of time with a specific termination date.
An interest in leased property that continues from period to period. Month to month, week to week, year to year.
Tenancy at Will
An estate that gives the tenant the right to possess with the consent of the landlord for an indefinite period.