C9 Renting and Owning

Contract between landlord and tenant

• Lease

• Lessee

• Lessor

• Will

The tenant in a lease arrangement

• Lessee

• Lease

• Lessor

• Tenancy at will

The landlord in a lease arrangement

• Lessor

• Lease

• Executor

• Lessee

The interest a tenant has in the real estate they lease

• Tenancy

• Estate

• Sublease

• Rent

A lease for a fixed period of time

• Tenancy for years

• Tenancy

• Tenancy at sufferance

• Sublease

A lease which has the original terms automatically renewed for successive periods, until proper notice to terminate is given by either the landlord or tenant; ex. month to month rental.

• Periodic tenancy

• Sublease

• Tenancy

• Security deposit

An occupation of space for an indefinite period which can be terminated by either the lessor or lessee at any time.

• Tenancy at will

• Sublease

• Tenancy for years

• Tenancy at sufferance

A tenancy which is created when one is in wrongful possession of realty, even though the original possession may have been legal; ex. a tenant overstays beyond term of the lease; landlord has right to collect rent and evict.

• Tenancy at sufferance

• Sublease

• Tenancy

• Periodic tenancy

A sum of money usually equal to one month's rent, held by the landlord to cover any damage to the apartment caused by a tenant.

• Security deposit

• Sublease

• Rent

• Option to renew

The transfer of part of the term of a lease, but not the remainder of it, to someone else.

• Sublease

• Tenancy

• Lien

• Option to renew