Question

BUSINESS LAW

Short Answer essay:

1. List and describe the Nonfreehold Tenancies.

2. Please list and describe how leases are typically terminated or come to an end.

3. A “Tenancy at Will” is terminated by “Operation of law” if what five(5) events occur?

Answer 1

Non-freehold estate is an interest in real property where estate are not inheritable and exist "without seisin". Where "Seisin" means ownership.

The holder of a non-freehold estate holds no ownership in the property and only holds the right to use the property on agreed terms . The ownership stays with the landlord

Part b)

Types of non-freehold tenancy

1. Tenancy for Years

It is an estate created by lease. It is a contractual agreement where tenatant takes leasehold interest in propery only for a specified duratuon. It shall have a definite beginning and ending date. They automatically terminate on end date without any notice to eiter leasee or leasor

2. Tenancy from Period to Period

It is similar to tenancy for years but is automatically renewed at end date unless terminated by lessor or lesse with prior notice. They are of indefinite duration and can be renewed indefinitely.

3. Tenancy at Will

A tenancy at will exists on pleasure of both lessor and lesse and can be terminated at any time "at will" of either lesse or lessor. The language of agreement might express that lease can be terminated instantly when notive is given.

Part c)

Tenancy at will can be terminated by operation of law if :

1. Landlord fails to perform an obligation in the lease
2. Landlord fails to adequately maintain and control the common area
3. Landlord or tenanct breaches a statutory duty owed to each other
4. Landord fails to perform promised repairs
5. Landlord allows nuisance like behavior