Leases - Need To Know Flashcards Preview

Utah Real Estate > Leases - Need To Know > Flashcards

Flashcards in Leases - Need To Know Deck (11)
Loading flashcards...
1

What happens when a tenant holds over wrongly or illegally?

Tenancy in sufferance, or holdover tenant.

2

Who is protected in a non-disturbance clause in a loan?

Lessee

3

What happens to a lease when a property is sold?

Nothing, the lease stays in force

4

What type of commercial lease requires a flat amount of monthly rent plus percentage of gross sales?

Percentage lease

5

What would protect a tenant from a lessor's desire to terminate the lease?

Tenancy for years

6

A holdover tenant is one who:

Remains in possession of a leasehold beyond the expiration of their lease.

7

A lease that requires increases of rent at regular intervals is called a ________

Graduated lease

8

A tenant is released from the obligation to pay rent if:

The tenant is constructively evicted
Or
The property is condemned for health reasons.

9

If you were buying an investment property, what number would be most useful in making a wise decision?

NOI

10

Define:
Tenancy for years

A lease that has a definite beginning and expiration date despite the length of the term.

11

For a tenant to successfully constructively evict, the tenant must:

Vacate the premises.