Podcast
Questions and Answers
A property owner leases their building to a tenant. What role does the property owner assume in this arrangement?
A property owner leases their building to a tenant. What role does the property owner assume in this arrangement?
- Grantor, transferring their ownership
- Lessee, holding the rights to the property
- Lessor, granting the right to use the property (correct)
- Mortgagor, securing a loan with the property
A tenant signs a lease agreement granting them undisturbed enjoyment of the property. Which covenant in the lease ensures this right?
A tenant signs a lease agreement granting them undisturbed enjoyment of the property. Which covenant in the lease ensures this right?
- Covenant Against Encumbrances
- Covenant of Seizin
- Covenant of Quiet Enjoyment (correct)
- Covenant of Warranty
A commercial tenant is required to pay property taxes, insurance, and maintenance costs in addition to rent. What type of lease is MOST likely in effect?
A commercial tenant is required to pay property taxes, insurance, and maintenance costs in addition to rent. What type of lease is MOST likely in effect?
- Percentage Lease
- Net Lease (correct)
- Gross Lease
- Ground Lease
A lease contains a clause that allows the rent to increase periodically based on an index. What type of lease provision is this?
A lease contains a clause that allows the rent to increase periodically based on an index. What type of lease provision is this?
What is the primary legal instrument used to transfer the right of possession of a property for a specified period?
What is the primary legal instrument used to transfer the right of possession of a property for a specified period?
A business owner rents a storefront and pays a fixed rent plus a percentage of their gross sales. What kind of lease agreement is MOST likely in place?
A business owner rents a storefront and pays a fixed rent plus a percentage of their gross sales. What kind of lease agreement is MOST likely in place?
A property owner is selling a building with existing leases. What happens to the existing leases when the property is sold?
A property owner is selling a building with existing leases. What happens to the existing leases when the property is sold?
A tenant subleases their apartment to another individual. Who is PRIMARILY responsible to the landlord for the rent payments?
A tenant subleases their apartment to another individual. Who is PRIMARILY responsible to the landlord for the rent payments?
What is the legal term for the tenant in a lease agreement?
What is the legal term for the tenant in a lease agreement?
A landlord fails to provide essential services, making the property uninhabitable. What legal recourse does the tenant have?
A landlord fails to provide essential services, making the property uninhabitable. What legal recourse does the tenant have?
Flashcards
Lessor
Lessor
The property owner who rents property to another under a lease.
Quiet Enjoyment
Quiet Enjoyment
The right of an owner or legal possessor to use property without interference.
Study Notes
- The term for one who rents property to another under a lease is a Lessor.
- The right of an owner, or a person legally in possession, to use property without interference of possession is known as Quiet Enjoyment.
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Description
A lessor is the party who rents property to another under a lease agreement. Quiet Enjoyment is the right of an owner or legal possessor to use property without interference. These are fundamental concepts in property law.
