PROPERTY OWNERSHIP 4: Estates Less Than Freehold - Estate for

PROPERTY OWNERSHIP 4: Estates Less Than Freehold - Estate for

Years. Periodic Estate. Estate at Will. Tenancy at Sufferance.Flashcards LesseeThe holder of an estate less than freehold (the tenant) Periodic estatebegins with an original lease period with a ______ duration fixed May beevictedby thelandlordif this is done in a timely manner.tenant at sufferance Thelandlordunder a lease is called the _____. lessor

• types ofestate less than freehold-estate for years-periodic estate-estate at will-tenancy at

sufferance Another name for anestate less than freeholdis _____ estate.leasehold A lease creates tworeal property interests -landlord's interestis referred to as aleased fee estate.-tenant's interestis theleasehold estate.Situation known as aholdover tenanttenant at sufferance A leasewhich may beterminated by either party at any timeis called a(n) _____.estate at will Theholderof aleased fee estateis called ____ lessee Reversion interestThe landlord's right to regain possession at the end of a lease A leasehold estatethat has aspecific starting and ending dateis called a(n) _____.estate for years Estate less than freeholdentitles holder to only possession The duration of anestate for years____can be any length During the life of anestate less than freehold,thelandlordis said to hold a _____.reversion interest When atenantremains in possession of leased propertybeyond his/her legal tenancyandagainstthe owner's will, it is called _____.tenancy at sufferance Estate less that freeholdhas a duration of less than a life Lessor(landlord)The owner of the property, and the holder of a leased fee estate Periodic estateis an example ofmonth-to-month apartment lease A leasewhich isautomatically renewedfor a period equal to the initial lease duration is called a(n) _____.periodic estate When atenantremains in possession of leased propertybeyond his/her legal tenancywiththe owner's permission, it is called _____.tenancy at will Estate less than freeholdmeansrental

Under a lease, thelandlord's interestis referred to as a _____ estate.leased fee Estate at willAKAtenancy at will Periodic estateAKAestate from year-to-year