Property Outline LL-T - LANDLORD TENANT Creation of...

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Unformatted text preview: LANDLORD TENANT Creation of Leasehold Estates I. Overview of Estates in Land A. Freehold-potentially unlimited i. Fee simple: complete ownership=O grants to A and his heirs ii. Transfers for life iii. Transfers based on some stipulations 1. Age 2. Use of property B. Non-Freehold - Limited by time. i.e. Landlord Tenant i. Based on Length of time ii. Contract Law 1. Leasea bilateral contract compromising express and implied rights and obligations on both sides. Rent is not necessary. 2. Remedy is usually monetary damages iii. Property Law steps in when: 1. Absence of contractual agreement a. Gap filling i) Delivery/possession 2. Remedy usually includes specific performance a. Why? There is only one piece of property in the world in that location. UNIQUENESS II. Types of Non-freehold Estates (p. 475) A. Term in Years i. Definite period, but can be for any length of time. ii. Tenancy begins w/ a landlord seeking out a tenant and they agree to a term and act on it iii. In theory, when the ending date arrives, you have no right to extend or renew your lease 1. W/out holdover rule -- there is a tenancy at will situation when the end date arrives -- then you may end up being a periodic tenancy 2. Can make oral contracts, but think about the statute of frauds. iv. Tenants tend to have more rights in this type of lease 1. Especially if its more than one year 2. Commercial properties have more rights than residential B. Periodic Tenancy-characterized by periodic rent payments i. Indefinite period ii. Parties either through agreement or conduct develop a standard period -- week to week, month to month, year to year, etc. it is renewed automatically unless you end it. iii. Rule: you need one full period's notice to end it 1. But its really terminable by either LL or T 2. One full period can only start on the natural date (usually first of the month) C. Tenancy at Will- terminable at the will of either party. i. Indefinite period Page 1 of 15 ii. The LL and the T don't really have an agreement iii. In theory, state of limbo in which either party (LL or T) really don't have much enforceable rights 1. Like a license, but with more rights for the tenant. iv. A few days in probably enough to classify it a Tenancy at Will v. These usually occur b/w friends or w/ a casual LL vi. Most turn into periodic tenancy b/c payments establish this 1. However, there still is no K D. Tenancy at sufferance i. Illegal lease cases 1. Fully obvious dilapidated conditions -- Courts have held those leases to be void and illegal 2. Against public policy ii. Courts don't allow LL to evict T b/c then they are forced to fix the conditions 1. Very controversial iii. If some but not all of the apt is broken - u still have to pay a percentage of the rent Access to the Rental Market I. Three Regulatory Levels in Housing Discrimination A. Congress (mandatory across the US -- minimum level of protection) i. Fair Housing Act 1. 3604 - substantive provisions a. Areas they will not tolerate any discrimination:...
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Property Outline LL-T - LANDLORD TENANT Creation of...

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