Leases & Property Management

A contract in which one party conveys property to another for a specific predetermined period of time, generally in return for periodic payment

• Lease

• Tenant

• Redlining

• Steering

Which two parties are involved in a residential tenancy?

• • landlord and tenant

• • landlord and buyer

• • tenant and seller

• • buyer and seller

With reasonable modifications, the landlord may permit changes on the condition that a tenant:

• pays extra rent each month because they are handicap

• • agrees to restore the property to its original condition when they move

• • files a small claims court suit

• • agrees to pay an increased rent cost

Concerning requirements for new buildings, if state or local laws demand more than the requirements of the federal law, people must:

• • comply with the more stringent state or local laws

• • comply with the less stringent state or local laws

• Match the primary estates to their description

• • equitable estates

• An estate that is owned by two or more individuals

• • freehold

• in the process of purchasing the estate

• • leasehold

• An estate in which a tenant has the right to possess a piece of property during the lease

• • concurrent

• An estate in which the owner has an indefinite length of ownership

Match the estates

• estate at will

• When a tenant is occupying a property with the landlord's knowledge and consent but without a formal lease agreement

• tenancy at sufferance

• when a tenant remains in possession of the property beyond their lease term, without the consent of the landlord

• estate for years

• the lease is automatically renewed at the end of each lease period until the landlord or tenant act to terminate it

• periodic estate

• is a leased possession of property for a certain, specific period of time

Leases must be in writing if they are

• under a year

• over a year

• require money to be paid

• month to month

A tenant's right to enjoy their property without disturbance from the landlord is known as the covenant of:

• • quiet enjoyment

• • tenant possession

• • material safety

Jukari is moving but still has 5 months left on her lease. She finds someone to take her place in the lease. Jukari collects the money from the new tenant and passes it on to her landlord. What is this an example of?

• • a sublease

• • the covenant of quiet enjoyment

• • a holdover lease

Which is the termination of a lease in circumstances where the landlord intentionally failed to provide required repairs or maintenance to such a degree that the premises are considered unusable

• constructive eviction

• discharge

• sublease

• actual eviction