Leasing

Question 1

What are the execution formalities for a lease that is for a time period of over a year?

Answer 1

Must be in writing

Must be signed in the presence of 2 subscribing witnesses.

Question 2

What is a tenancy for years?

Answer 2

This is an estate which continues for a fixed period of time.

Generally have termination dates and lasts for a year or more.

Question 3

What is a periodic tenancy?

Answer 3

Continues for successive periods until terminated by proper notice by T or L.

Question 4

What is a tenancy at will?

Answer 4

Tenancy is terminable at the will of T or L.

No fixed period of duration.

Question 5

What is a tenancy at sufferance?

Answer 5

Holdover Tenant - gives Tenant a leaseholder estate so that L can recover rent.

Last until L evicts T or gives T a new term.

Question 6

What is created by “To T as long as T desires?”

Answer 6

A tenancy at will.

Question 7

What is created by “Estate for Years”

Answer 7

Tenancy of years.

Question 8

What is a special clause that can be included in residential leases?

Answer 8

May contain a clause requiring T to give LL up to 60 days notice before vacating.

Question 9

What is the classification of a lease that is Y to Y?

Answer 9

Periodic Tenancy

Question 10

What is the classification of a lease that is M to M?

Answer 10

Periodic Tenancy

Question 11

Does FL recognize periodic tenancies for commercial leases?

Answer 11

No

Question 12

If a commercial lease is set up as a periodic tenancy what results?

Answer 12

No recognized by FL Law - this results in the lease being a tenancy at will.

Question 13

How much notice is given for residential lease of Y to Y?

Answer 13

60 days

Question 14

How much notice is required for residential lease of quarter to quarter?

Answer 14

30 days

Question 15

How much notice is required for residential lease of M to M?

Answer 15

15 days

Question 16

How much notice is required for residential lease of W to W?

Answer 16

7 days

Question 17

What results if rent is paid at intervals?

Answer 17

This is periodic tenancy as long as its a residential lease.

Question 18

Can a lease provide for liquidated damages if T fails to give notice of vacating?

Answer 18

Yes under any lease so long as LL provides written notice to T 15 days before notice period with date of termination is listed.

Question 19

What occurs if T fails to vacate with LL approval and not give 15 days notice?

Answer 19

T is responsible for the full months’ rent.

Question 20

If Rent is paid on an annual basis, what is the notice required to terminate a commercial tenancy at will?

Answer 20

3 months.

Question 21

If Rent is paid on a monthly basis, what is the notice required to terminate a commercial tenancy at will?

Answer 21

15 days

Question 22

If Rent is paid on a quarterly basis, what is the notice required to terminate a commercial tenancy at will?

Answer 22

45 days

Question 23

If Rent is paid on a weekly basis, what is the notice required to terminate a commercial tenancy at will?

Answer 23

7 days.

Question 24

What rent can be charged for a hold over period?

Answer 24

2x the current rent.

Question 25

What are tenant's duties under a lease?

Answer 25

1) Duty to repair 2) Duty not to use the property for illegal purpose 3) Duty to pay rent

Question 26

What are the landlord's duties under a lease?

Answer 26

1) Duty to deliver actual possession 2) Implied covenant of quiet enjoyment 3) Implied warranty of habitability (for residential only)

Question 27

What are L's remedies if T breaches its duties?

Answer 27

1) If T is in property and not pay - evict or sue for rent. 2) If T abandons or surrenders LL has no duty to mitigate LL can continue to hold T liable as rent come due. LL can take possession but must find a reasonable replacement and T pays the difference in rent.

Question 28

What are T's remedies if L breaches its duties?

Answer 28

1) Sue 2) Leave 3) If for a violation of habitability: - Move out and end lease - repair and deduct from rent - reduce and withhold rent - remain - pay rent and sue

Question 29

When can a purchase of real property terminate a lease?

Answer 29

By giving T 30 days notice

Question 30

What are the regulations regarding a security deposit?

Answer 30

Once T leaves the property: 1) LL has 15 days to return it if no claims are made. 2) LL has 30 days to notify T in writing if it makes a claim - T has a 15 day objection period. - If no objection, LL must deduct the amount and remit the balance to T within 30 days of L's initial notice.

Question 31

True or False: If Tenant does not give the required notices to vacate, then LL does not have to comply with security deposit regulations.

Answer 31

True

Question 32

What are limits on Caveat Lease?

Answer 32

1) LL must maintain common areas 2) LL duty to warn of hidden defects which LL knows of or has reason to know of. 3) Assumption of repairs: If LL undertakes repairs must do so in a reasonable manner. 4) Public use rule: LL who leases public space is liable for repairs 5) Short term furnished lease: L is responsible for all defects

Question 33

What is voluntary waste?

Answer 33

T intentionally or negligently damages or exploits the property or materials.

Question 34

What is permissive waste?

Answer 34

T fails to take reasonable steps to protect the property.

Question 35

What is ameliorative waste?

Answer 35

T alters the property increasing the value. T pays for the cost of restoration. T can't remove fixtures - chattels can be removed. Fixtures cause damage.

Question 36

What are the elements of constructive eviction?

Answer 36

1) Substantial interference with T's use of the property caused by L 2) Notice - T must provide a notice to L of the issue and L must refuse to act 3) Goodbye: T must vacate the property within a reasonable time after L recives notice of the issues.

Question 37

How is the covenant of habitability breached?

Answer 37

No heat/water/plumbing Only applies to residential. Cannot waive it - premises must be fit for human habitability as a dwelling.

Question 38

What is a partial condemnation?

Answer 38

LL and T relationship continues T's obligation to pay full rent continues. T is entitled to a share in the condemnations award if it affects T's rights.

Question 39

What is a total actual eviction?

Answer 39

LL or paramount title holder exclude T from the whole property. This terminates T's obligation to pay rent.

Question 40

What is a partial actual eviction?

Answer 40

T is only excluded from a portion of the property. If by LL: T not required to pay rent. If by paramount title holder: T's rent is reduced.