Landlord [LL] & Tenant [T] Issues

Lease Hold Interest

LL grants T exclusive use of his land for a limited period of time (X)
Lease provides T with a present possessory interest in land and LL with a furture interest in land

3 types of Leasehold Tenancies (T) and 1 created by statute

T for Years Periodic T T @ Will T @ sufferance
Define One that last for One that continues for a One that continues Created when T
a Fixed period specified or a specific until either party wrongfully holdover
of time. period. terminates after once having full
Can be for more (i.e. weekly/ monthly) possession.
or less than a
year.
Terminate Automatically Until termination by proper Termination requires: Terminnantion will
s terminates @ notice from either party. 1. Notice AND occur when:
end of time Must end at natural period of time 2. Reasonable time to quit a. LL evicts T or
AND the premises. b. Holds T to new term
period.
Written notice at least full period LL can evict T and get past due
in advance. rent
Created a) Expressly
b) Implication
IF rent is paid a specified time
c) By law
When T for years remains after
termination.