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What is the common term for an estate from period to period lease?
Also known as “periodic tenancy,” an estate from period to period lease doesn't spell out a specific ending date but does specify periods of tenancy and rent payment, such as month-to-month. Short- and long-term apartment owners usually require tenants to sign period-to-period leases.
What is an estate from period to period?
An estate from period to period is a leasehold agreement that specifies an initial period of tenancy and the length of the agreement, but does not end after the specified period.
What is the major difference between an estate for years and an estate from period to period?
One big difference is the length of the lease. With an estate for years, there is a specific ending date and the lease can be for an extended period of time. In contrast, a periodic tenancy arrangement doesn't have a specific ending date.
What is an estate from year to year?
Lesson Summary An estate for years is a type of leasehold estate that lasts for a specific period of time. The beginning and ending dates are specified in the lease, along with the amount paid in rent. No notice is required to vacate, as the tenant is expected to vacate at the end of the lease.
What is an estate month?
A periodic estate is a type of leasehold estate. It includes a written agreement between landlord and tenant, specifies the amount of rent to be paid, and requires notice to vacate the property. It can be on a month-to-month or week-to-week basis.
Which kind of estate enables a lease for any definite period?
A type of leasehold estate that continues for a definite period of time. Since the lease expires on a specific date, the lessee must vacate the premises at the end of the lease term and no notice is required to terminate the lease.
What are the 4 types of leasehold estates?
There are four main types of leasehold estate, each having specific characteristics as to the lease period and the relationship between the landlord and tenant. The four types are (1) estate for years, (2) estate from period to period, (3) estate at will, and (4) estate at sufferance.
What type of leasehold estate is a ground lease?
A ground lease or a ground rent is a type of commercial real estate lease where a lessee develops the real estate property he or she is renting. Like an ordinary lease, there are two parties involved the lender or the landlord/real property owner, and the lessee or the tenant.
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