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Legal Real Estate- Ch. 15

Terms in this set (30)

A lease in which the rental amount remains the same for the entire lease term is known as a
Fixed lease
A fixed lease is also known as a gross lease. T/F?
True
A percentage lease is most commonly used with .............tenants
Retail
A developer who wants to build on a vacant piece of land may opt for what type of lease
Ground lease
A transfer of benefits and obligations within a contract to a 3rd party who is not originally a party to the contract is known as a/an
Assignment
The maximum security deposit for an unfurnished apartment is
2 months
The maximum security deposit for a furnished apartment is
3 months
Security deposits may be non-refundable. T/F?
False
A landlord may use a tenant's security deposit as liquidated damages. T/F?
False
Under a typical residential lease, the tenant is responsible for which of the following?
A-Paying rent
B-Maintaining the apartment
C-Disposing of garbage
D-All of the above
All of the above
Under a lease agreement, the tenant is entitled to quiet enjoyment of the apartment. T/F?
True
The landlord is responsible for making their apartments habitable for tenants. T/F?
True
A lease which provides for a varying rental rate, often based upon future determination, is known as a
Graduated lease
The removal of a tenant by the landlord because the tenant breached a condition of a lease or another rental contract is known as
Actual eviction
Any disturbance of the tenant's possession of the leased premises by the landlord whereby the premises are rendered unfit or unsuitable for the purpose for which they were leased is known as
Constructive eviction
The right of a tenant to use the property without interference of possession is known as
Quiet enjoyment
The right to quiet enjoyment is an example of an express covenant in a lease. T/F?
True
Landlords may charge a late charge to the tenant if the tenant fails to pay the rent on time. T/F?
False
The notice for termination of a lease must be in writing. T/F?
True
A lease may be terminated by which of the following means?
A-Written notice
B-Foreclosure
C-Illegal use of the premises
D-All of the above
All of the above
In order to start the eviction process, the landlord must provide the tenant with a
Notice to pay rent or quit
What does a landlord receive from the courts that authorizes the Sheriff to evict a tenant
Writ of possession
Retaliatory eviction is considered illegal. T/F?
True
A lease requiring a lessee to pay charges against the property such as taxes, insurance and maintenance costs in addition to rental payments, is known as a
Net lease
What type of lease is commonly used to rent residential apartments
Gross lease
A lease in which the rent is determined by the amount of business done by the lessee is known as a
Percentage lease
An agreement for the use of land only, sometimes secured by improvements placed on the land by the user is known as a
Ground lease
A lease must be in writing if the term is greater than one year. T/F?
True
The courts tend to favor landlords over tenants. T/F?
False
A net lease is commonly used with office tenants. T/F?
True
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