7 ground lease a lease of land only on which the

7. ground lease: A lease of land only, on which the tenant usually owns a
building or is required to build as specified in the lease. Such leases
are usually long-term net leases; the tenant’s rights and obligations
continue until the lease expires or is terminated through default.
8. holdover tenant: A tenancy whereby a lessee retains possession of
leased property after his or her lease has expired and the landlord, by
continuing to accept rent, agrees to the tenant’s continued occupancy.
9. implied warranty of habitability: A theory in landlord/tenant law in
which the landlord renting residential property implies that the
property is habitable and fit for its intended use.
10.index lease: A lease in which the rental figure is adjusted periodically
according to the government’s cost-of-living index.
11.Lease: A written or oral contract between a landlord (the lessor) and a
tenant (the lessee) that transfers the right to exclusive possession and
use of the landlord’s real property to the lessee for a specified period
of time and for a stated consideration (rent).
12.leasehold estate: A tenant’s right to occupy real estate during the term
of a lease; generally considered personal property.
13.Lessee: Tenant
14.Lessor: Landlord
15.month-to-month tenancy: A periodic tenancy; that is, the tenant rents
for one period at a time. In the absence of a rental agreement (oral or
written), a tenancy is generally considered to be month to month.
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Modern Real Estate Practice in New York for Salespersons 11 th Edition
16.net lease: A lease requiring that the tenant pay not only rent but also
some or all costs of maintaining the property, including taxes,
insurance, utilities, and repairs.