ADMS2610-Session12-Ch25

ADMS2610-Session12-Ch25 - ADMS2610 Session 12 Chapter 25...

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ADMS2610 Session 12 Chapter 25 (pg. 484-494) Leasehold Interests Creation of a Tenancy - Introduction o Contract which gives tenant exclusive possession of the property for a specified period o Not the same as a license Leased exclusive possession and interest in land License grants right to use property in common with others and no interest in land Test: one of intention - Contractual Foundation o Express or implied (oral) o Terms set out through contract as long as lawful o Cannot override certain parts of legislation (Residential Tenancy Acts) o General elements of a contract are required for validity Capacity, offer, acceptance Legislative Developments - Distinction o Residential vs. Commercial leases o Residential – governed by contract, common law and statute law Protection of tenants o Commercial Common law and contract law Characteristics of a Lease - Exclusive possession - Term is certain – fixed term of a lease - Periodic Tenancy – lease that automatically renews at the end of each rent period until notice of termination - Tenancy at sufferance – when tenant remains in possession after expiration of tenancy and notice given - Tenancy-at-will – landowner permits another to enter on the premises and
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This note was uploaded on 03/25/2011 for the course ADMS 2610 taught by Professor Joshuasera during the Winter '10 term at York University.

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ADMS2610-Session12-Ch25 - ADMS2610 Session 12 Chapter 25...

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