MGMT 35400 Chapter Notes - Chapter 50: Commercial Paper, Forcible Entry
1 Apr 2019
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Lease-agreement between the owner of the property and a tenant by which the former agrees to give possession of the property to the latter in consideration of the payment of rent. Lessor-one who conveys real or personal property by a lease; a landlord. Leasee-one who has a possessory interest in real or personal property under a lease; a tenant. Tenant-one who holds or possesses real property by any kind of right or title; one who pays rent for the temporary use and occupation of another"s real property under a lease. Tenancy for years-tenancy for a fixed period of time, even though the time is less than a year. Periodic tenancy-tenancy that continues indefinitely for a specific rental period until terminated; often called a month-to -month tenancy. Tenancy at will-holding of land for an indefinite period that may be terminated at any time by the landlord or by the landlord and tenant acting together.
