FRECI_8-6 - (any duration) Conveys rights of: Use...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 8 – Lecture 6 Property Rights: Estates and Tenancies; Condos, Co-ops, and Time-Shares Copyright, 2004 2 Lecture Preview What will you learn from this lecture? Ownership rights in real property Ownership estates (interests) in real property Copyright, 2004 3 Vocabulary Terms Estate for years Leasehold estates Tenancy at sufferance Tenancy at will Copyright, 2004 4 Estates in Real Property Estates (Tenancies) Ownership Estates (Freeholds) Ownership without Inheritance Ownership with Inheritance Fee Simple Life Estate Non-ownership Estates (Leaseholds) Tenancy at Sufferance Tenancy at Will Estate for Years Copyright, 2004 5 Leasehold Estates (Non-Freehold) Tenancy at Sufferance Tenancy at Will Estate for Years Leasehold Estates (Non-Ownership) Copyright, 2004 6 Estate for Years (Tenancy for Years) Created by written lease Precise termination date Week, month, years
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Unformatted text preview: (any duration) Conveys rights of: Use Possession Exclusion 2 Copyright, 2004 7 Tenancy at Will By agreement (unwritten) No specified lease term Termination notice based on rent payment intervals Month-to-month rent requires 15 day notice (minimum) Copyright, 2004 8 Termination Notice 1st 15th 30th Tenants Last Day Rent Due (paid monthly) Notice of Termination Issued Copyright, 2004 9 Termination Notice (contd) March 1st 15th 30th 1st 15th 30th April Tenants Last Day Rent Due (paid monthly) Notice of Termination Issued Copyright, 2004 10 Tenancy at Sufferance Lowest form of interest in real property Hold-over tenancy No termination notice required Payment and acceptance of rent does not constitute renewal Copyright, 2004 11 End of Lecture At the conclusion of this lecture, complete Quiz 8-6 in the course....
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This note was uploaded on 05/21/2011 for the course FREC 1000 taught by Professor Stallone during the Spring '08 term at University of Florida.

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FRECI_8-6 - (any duration) Conveys rights of: Use...

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