| A | B |
|---|
| lease | the contract between a tenant and a landlord |
| lessee | a tenant |
| lessor | the landlord |
| tenancy | tenants own an interest in the real estate they lease, called a leasehold estate |
| tenancy for years | the right to occupy property for a definite or fixed period of time. It may be for one week, six months, one year, etc. |
| periodic tenancy | a tenancy that continues for successive, fixed periods of time. It may be from year to year, month to month or week to week |
| tenancy at will | an interest in real property that continues for an indefinite period of time. No writing is necessary to create this tenancy |
| tenancy at sufferance | occurs when a tenant does not leave the premises when the tenancy expires. They are called holdover tenants and wrongdoers |
| terms of a lease | set forth the rights and duties of the landlord and the tenant |
| security deposit | in addition to the first month's rent landlords often require a last month's rent at the beginning of a tenancy |
| assignment of a lease | when someone transfers the remaining period of time in a lease to someone else |
| sublease lease | the transfer of part of the term of a lease, but not the remainder of it , to someone else |
| option to renew | leases that contain a provision allowing renters the right to a new lease under the same terms for an additional period |
| refrain from discrimination | it is against the law to refuse to rent property to any person because of race, religion, color, national origin, gender, age, ancestry or maritial status |
| maintain the premises | rental property offered for dwelling purposes must be fit for human habitation--relatively clean, properly heated, furnished with utilities and safe |
| transfer peaceful possession | tenants are entitled to quiet enjoyment of the property without interference |
| fixtures | items of personal property attached in such a way that they become real property |
| waste | damage to property that significantly decreases a property's value |
| trade fixtures | fixtures attached to business property that are needed to carry on the business--these fixtures remain the property of the tenant |
| eviction | occurs when a landlord deprives a tenant of the possession of the premises--puts the person out--it requires a court order |
| constructive eviction | occurs when a landlord breaches a duty under a lease--deprives the tenant of heat, electricity or some other service called for by the lease |
| real property | the ground and everything permanently attached to it |
| estate | the interest or right that a person has in real property |
| fee simple estate | an estate in which the owner owns the property outright with the exclusive right to use it or dispose of it freely |
| life estate | an estate in which the owner owns real property for the length of the owner's life or for the life of another |
| tenancy in common | a type of co-ownershp with each owner's share going to his or her heirs upon death |
| joint tenancy | a type of co-ownership with each owner's share going to the surviving co-owners upon death |
| community property | property acquired by the efforts of either spouse during marriage |
| tenancy by the entirety | property held by a husband or wife who have an equal right to the property. |
| deed | a written instrument that transfers title of ownership of property |
| general warranty deed | contains express warranties that title to the property is good |
| special warranty deed | contains express warranties that no defect arose in the title during the time that the grantor owned the property |
| bargain and sale deed | transfers title to property without giving warranties |
| eminent domain | the right of the government to take private land for a public purpose |
| zoning laws | limit the way property may be used in specified areas |
| quitclaim deed | transfers whatever interest the grantor has in the property, but it does not warrant that the grantor has any interest. It merey releases the grantor's rights to the property |
| lien | a legal claim against another person' property as security for a debt or loan to ensure it will be repaid |
| license | a temporary, revocable right to the limited use of another's land |
| easement | an irrevocable right to the limited use of another's land |
