Freehold

Leasing & Property Management term

Estate for Years

A leasehold with a definite start and end date that terminates automatically without notice.

Why Estate for Years matters on the exam

This term belongs to Leasing & Property Management. The questions below are real items from Freehold's bank that use it - each one cites its source.

Exam questions using Estate for Years

Every Freehold question shows why the right answer is right — and cites its source.

A lease that runs from June 1 to August 31 with a definite end date creates which leasehold estate?

  1. A periodic month-to-month tenancy
  2. An estate for years
  3. A tenancy at will
  4. A tenancy at sufferance
Show answer & explanation

An estate for years — An estate for years is a leasehold with a definite beginning and ending date, regardless of its length. It terminates automatically at the end date without either party giving notice.

Source: PSI National Real Estate Exam Content Outline §8 Leasing & Property Management

A month-to-month tenancy that automatically renews at the end of each rental period until either party gives proper notice to terminate is known as a:

  1. Estate for years
  2. Periodic tenancy
  3. Tenancy at will
  4. Tenancy at sufferance
Show answer & explanation

Periodic tenancy — A periodic tenancy has no fixed ending date and automatically renews for successive periods, such as month to month, until either party gives the legally required notice to terminate.

Source: PSI National Real Estate Exam Content Outline §8 Leasing & Property Management

A tenant occupies a property with the landlord's permission but without a written lease or a set rent-payment period, and either party may terminate at any time. This describes a:

  1. Estate for years
  2. Tenancy at sufferance
  3. Tenancy at will
  4. Periodic tenancy
Show answer & explanation

Tenancy at will — A tenancy at will exists when a tenant occupies property with the owner's consent but without a defined term or periodic rent schedule, and either party may end it at any time.

Source: PSI National Real Estate Exam Content Outline §8 Leasing & Property Management

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