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

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

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.

Page1 / 4

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

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online