Real estate law RELChapter11Overview

Real estate law RELChapter11Overview - MANAGEMENT 4803...

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Unformatted text preview: MANAGEMENT 4803 LEGAL ASPECTS OF REAL ESTATE COLLEGE OF MANAGEMENT GEORGIA INSTITUTE OF TECHNOLOGY PROFESSOR LUCIEN J. DHOOGE OVERVIEW OF CHAPTER 11 Chapter 11 is concerned with four topics. These topics are types of leasehold estates, lease provisions, remedies and tort liability. There are four basic types of leasehold estates. An estate for years is a tenancy for a fixed duration. A periodic tenancy is a lease agreement that is automatically renewed until such time as the landlord or tenant gives notice that it will end. A tenancy at will is a lease of an indefinite duration that may be terminated at any time by either the landlord or the tenant upon notice. Finally, a tenancy at sufferance occurs when a person in possession of real estate refuses to vacate the premises after his right to occupy said premises has expired. Regardless of its type, all tenancies share three characteristics. These characteristics are that the tenant has the right to possession while the lessor retains ownership of the premises as well as a reversionary interest. lessor retains ownership of the premises as well as a reversionary interest....
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