Podcast
Questions and Answers
A tenant consistently pays rent late due to a dispute over included amenities that were verbally promised but not in the lease. What could the tenant pursue, assuming the verbal agreement can be proven?
A tenant consistently pays rent late due to a dispute over included amenities that were verbally promised but not in the lease. What could the tenant pursue, assuming the verbal agreement can be proven?
- Constructive eviction, arguing the landlord's actions have made the property uninhabitable. (correct)
- Actual eviction due to breach of contract.
- Assignment of the lease to a third party without the landlord's consent.
- Termination of the lease due to breach of the warranty of habitability.
A property management company decides to change the locks and bar a tenant from entering an apartment due to alleged lease violations. Which of the following legal actions would this situation most likely involve?
A property management company decides to change the locks and bar a tenant from entering an apartment due to alleged lease violations. Which of the following legal actions would this situation most likely involve?
- Estate at Will
- Constructive Eviction
- Actual Eviction (correct)
- Tenancy at Sufferance
A lease contains a clause that states the rent will automatically increase or decrease based on fluctuations in the Consumer Price Index (CPI). This type of lease is BEST described as a(n):
A lease contains a clause that states the rent will automatically increase or decrease based on fluctuations in the Consumer Price Index (CPI). This type of lease is BEST described as a(n):
- Periodic Estate
- Land Lease
- Index Lease (correct)
- Estate for Years
Which scenario would render a sales contract invalid, assuming all parties are of sound mind and acting without duress?
Which scenario would render a sales contract invalid, assuming all parties are of sound mind and acting without duress?
A tenant remains in possession of a property after their lease expires without the landlord's consent. Which type of leasehold estate does the tenant now hold?
A tenant remains in possession of a property after their lease expires without the landlord's consent. Which type of leasehold estate does the tenant now hold?
Flashcards
Estate for Years
Estate for Years
A lease for a fixed period (e.g., a year) that automatically terminates at the end of the term.
Periodic Estate
Periodic Estate
A lease that renews automatically for a specific period (e.g., month to month) until terminated by either party.
Land Lease
Land Lease
Tenant use of land, rent paid to landlord.
Constructive Eviction
Constructive Eviction
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Invalid Contract
Invalid Contract
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Study Notes
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There are four types of leasehold estates: estate for years, periodic estate, estate at will, and tenancy at sufferance
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An index lease is tied to an index such as the Consumer Price Index
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A Land lease (or ground lease) allows a tenant to use land owned by the landlord in exchange for rent
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A lease is a contract where the possessor of real property transfers rights to another for life, a term of years, or at will, for consideration (usually rent)
Lease Requirements
- Include security deposit, possession and habitability (Warranty of Habitability), and improvement terms
Lease Transfer Options
- Assignment
- Sublet
- Apartment sharing stipulations
Lease Termination
- Occurs when the lease term ends
- Requires a 30-day notice for month-to-month leases
- Can result from eviction (actual or constructive) or unit abandonment
Contract Validity Requirements
- Properly written with stated terms and signatures
Invalid Contracts
- Unilateral and verbal contracts are not valid
Essentials of a Valid Contract
- Competent parties, mutual agreement, consideration, lawful objective, and must be in writing
- A contract lasting more than one year must be in writing
Essentials of a Sales Contract
- Date, identification of parties, legal description, personal property provision, and consideration
- Also requires terms of payment, type of deed, closing time and place, and a broker clause
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Description
Explore leasehold estates: estate for years, periodic, at will, and tenancy at sufferance. Understand lease requirements: security deposits, habitability, and improvement terms. Learn about lease transfers, termination, and contract validity.
