An owner lets a friend stay in a cottage with the owner's consent, with no fixed term, no rent due on any regular schedule, and the understanding that either party may end the arrangement at any time. What type of tenancy is this?
Correct Answer
B) Tenancy at will
A tenancy at will exists when the occupant holds with the landlord's consent for no fixed term and either party may end it, subject to whatever notice state law requires. A tenancy at sufferance is its opposite on the consent point: the holdover remains after a lease ends without permission. A periodic tenancy runs from period to period because rent is paid and accepted on a recurring cycle and renews automatically until notice, and a tenancy for years has a definite beginning and ending date however short the term.
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Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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A tenant rents month-to-month with no final expiration date stated, and the tenancy renews each month until proper notice is given. What type of tenancy is this?
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A lease ends on May 31, but the tenant stays in the unit without signing a renewal and without the landlord's consent. What is the tenant's status?