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Karel Green
Geronimo Tuzo
Alwayne Codner
Karyll Beecher
Chelsea Williams
Tamara Noel
Rohan Franklin


Mr. Lenworth Burke

A lease is a legally enforceable contract
which defines the relationship between an
owner, the lessor, and a renter, the lessee.
 A typical lease spells out all of the terms
involved in a land, including the length of
time a lessee may use it and what condition
it must be in upon return to the lessor.
 The amount of payments and any financial
penalties for late payments may also be
included in a lease contract.
A lease is a document creating an interest in
land for a fixed period of certain duration,
usually in consideration of the payment of

A Lease is a legal contract, and thus

enforceable by all parties under the Contract
Laws of the applicable jurisdiction.
 Names of the parties of the agreement.
 The starting date and duration of the
 Identifies the specific object (by street
address, VIN, or make/model, serial number)
being leased.
 Provides conditions for renewal or non-
 Has a specific consideration (a lump sum, or
periodic payments) for granting the use of
this object.
 Has provisions for a security deposit and
terms for its return.
 May have a specific list of conditions
which are therein described as Default
Conditions and specific Remedies.
 May have other specific conditions placed
upon the parties such as
 need to provide insurance for loss
 restrictive use
 which party is responsible for maintenance
 Fixed Term
 Yearly Tenancy
 Periodic Tenancy
 Tenancy at Will
 Tenancy at Sufferance
 Fixed term leases lasts for a fixed period of

 These leases lasts for any duration of time so

long as the start and end dates are specified.

 AtCommon Law the duration did not need to

be certain, as they could be conditioned on
the happening of events. E.g. for the
duration of a war.
 Fixed
term leases are normally created by an
agreement between two or more parties.
 Fixedterm tenancies automatically comes to
an end or expires at the end of the period
stated in the lease agreement.

A landlord and tenant may agree in writing to

end a fixed term tenancy before its expiry
A landlord (lessor) and tenant (lessee) may
agree to renew a fixed term tenancy
agreement with or without changes, for
another fixed term.

 Form_24A_Fixed_Term_Tenancy.pdf
 Continues from year to year

 Created by

• Express Agreement
Parties agreeing to a tenancy from “year to year”
or by use of words of similar intent.
• Implication
Otherwise called creation by operation of law
and satisfies:

a)person occupying land with owner’s permission

and is not a licensee and no agreed period

b)expressed and accepted rent is calculated as a

yearly sum
• Effect of Statute
Giving tenants the right to remain in occupation
of premises after the termination of their lease

 Determination
• In manner agreed by parties

• In absence of agreement by a (period) of notice

A periodic tenancy is a lease agreement
signed between the landlord and tenant that
does have a fixed stated end date.

 In theory, a periodic lease definition can be a

week to week, month to month or even year
to year tenancy.
 Eitherthe landlord or the tenant may
terminate a periodic tenancy when the
period or term is nearing completion, by
giving notice to the other party as required
by statute or case law in the jurisdiction.
 Eitherparty must give notice if it intends to
terminate a tenancy from year to year, and
the amount of notice is either specified by
the lease or by state statute.
 Durationsof less than a year must typically
receive notice equal to the period of the
tenancy - for example, the landlord must
give a month's notice to terminate a tenancy
from month to month.

 Forjurisdictions that have local rent control

laws, a landlord's ability to terminate a
residential tenancy is substantially reduced
Ending Periodic Tenancy:
 Ending your week to week or month to
month renting involves giving the other party
a written notice to quit in advance.

 Landlordsgenerally have to hand your tenant

a 30 day notice to vacate.
Ending Periodic Tenancy cont’d:

 The renter or tenant will hand in a 30 day

notice to the landlord. This notice has to be
given at least 1 month before you leave to
give the landlord enough time to look for
another renter.
A tenancy at will is a tenancy which either
the landlord or the tenant may terminate at
any time by giving reasonable notice
 It may last for many years, but it could be
ended at any time by either the lessor or the
lessee for any reason, or for no reason at all.
 Alternatively, a tenancy at will (without a
specific time limit) may exist for a temporary
period where a tenant wishes to take
possession of a property and the landlord
agrees, but there is insufficient time in
which to negotiate and complete a new
lease. In this case, the tenancy at will is
terminated as soon as a new lease is
negotiated and signed.
A tenancy at will is broken, again
by operation of law, if the:
 Tenant commits waste against the property;
 Tenant attempts to assign the tenancy;
 Tenant uses the property to operate a criminal
 Landlord transfers his/her interest in the
 Landlord leases the property to another person;
 Tenant or landlord dies.
A tenant at sufferance is the situation when
a tenant of real estate continues to occupy
the premises without the landlord's consent
after the original lease or rental agreement
between the landlord and the tenant has
 A tenant in this situation is also referred to
as a holdover tenant.
 During a tenancy at sufferance the tenant is
bound by the terms of the lease (including
payment of rent) which existed before it
 Ifa tenant at sufferance does not leave after
a notice to quit (move out), he/she is
subject to a lawsuit for unlawful detainer.
 A tenant at sufferance differs from a tenant
at will in that the latter has permission of
the landlord to stay beyond the expiration
date of the agreement, while the tenant at
sufferance does not.
A lease agreement protects both the lessor and
the lessee. The lessor knows that a legally
binding contract obligates the renter to make
regular payments throughout the life of the
lease. The lessee knows that he or she has full
rights to the property without fear of sudden
seizure or eviction. A lease also guarantees that
the original rental terms will not change until
the lease has expired.
Wise Geek. 2010. What is a Lease?. Retrieved on November 25, 2010,
from http://www.wisegeek.com/what-is-a-lease.htm