Law for Business Mr. Bernstein Notes, pp Types of Leases December 17, 2014

Law for Business Mr. Bernstein Leases An agreement where one party receives temporary possession of real property in exchange for consideration (rent) Leases of >1 year must be written, according to the Statute of Frauds 2

Law for Business Mr. Bernstein Leasehold Estates Periodic Tenancy (ie month to month) Tenancy for Years (period of time specified) Tenancy at Sufferance (holdover) Tenancy at Will (neither rent nor time period stated) 3

Law for Business Mr. Bernstein Assets which are commonly leased Houses Apartment Offices Warehouse …also Cars, Trucks… Airplanes or other Capital Equipment 4