Tanya rents a duplex under an oral agreement that requires rent to be paid on the first day of each month. The agreement has no fixed ending date. What estate does Tanya most likely have?
Correct Answer
D) Periodic tenancy
A periodic tenancy continues from period to period, such as month to month, until one party gives proper notice to terminate. Because rent is paid monthly and no fixed end date is stated, Tanya most likely has a month-to-month periodic tenancy.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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