Real Estate

Real Estate

Dear Born Unit 17 Leases

Multiple Choice

A tenant’s right to possess real estate for a definite period with a specific starting and ending date is

• Estate at will

• Estate for years

• Estate at sufferance

• Estate from period to period

Multiple Choice

Allows for periodic increases in rent over the term of the lease

• Graduated lease

• Index lease

• Variable lease

• Oil and gas lease

Multiple Choice

May give the tenant the right to renew the lease, the right to purchase the leased property, or the right of refusal if the landlord decides to sell the property

• Reversionary right

• Option

• Sublease

• Assignment

Multiple Choice

The financing instrument, the mortgagee agrees not to terminate the tenancy of the lessee as long as the lessee is current on their rent even if the parcel is foreclosed upon

• Nondisturbance clause

• covenant of quiet enjoyment

• Valid lease

• Recording

Multiple Choice

Contract between lessor and lessee (landlord and tenant)

• Net lease

• Valid lease

• Gross lease

• Lease

Multiple Choice

A tenancy in which the tenant continues in possession after the lease has expired, without the landlord’s permission

• Tenancy for years

• Tenancy at sufferance

• Tenancy at will

• Periodic tenancy

Multiple Choice

A tenant enters into a commercial lease that requires a monthly rent of a minimum fixed amount, plus an additional amount determined by the tenant’s gross receipts exceeding $5,000

• Net lease

• Gross lease

• Percentage lease

• Standard lease

Multiple Choice

The lessee transfers the entire leasehold interest to another party with the lessor’s permission

• Sublease

• Option

• Assignment

• Reversionary right

Multiple Choice

A tenant moves a pet into an apartment community that has a no-pet policy. The landlord wishes to remove the tenant due to the breach. The legal process to remove the tenant is

• Constructive

• Eminent domain

• Partial eviction

• Actual eviction

Multiple Choice

Gives the tenant the right to possess the property with the landlord’s consent for an indefinite period of time

• Estate at will

• Estate for years

• Estate at sufferance

• Estate period to period

Multiple Choice

A tenant still have five months remaining on a one-year apartment lease. When the tenant moves to another city, the tenant transfers possession of the apartment to a friend for the entire remaining term of lease. The friend pays rent directly to the tenant. The tenant has become

• Assignor

• Sublessor

• Sublessee

• Lessor

Multiple Choice

A tenant signs a lease that includes a schedule of rent increases on specific dates over the course of the lease term.

• Percentage

• Net

• Graduated

• Index

Multiple Choice

When a tenant wants to purchase the property but is not yet able to do so

• Ground lease

• Sale and leaseback

• Variable lease

• Lease purchase

Multiple Choice

May be created when a tenant with an estate for years stays on after the lease term expires and the landlord accept rent payment

• Tenancy for years

• Estate from period to period

• Hold over tenancy

• Tenancy at will