Actual Eviction is the legal process by which a landlord removes a tenant from rental property.
A buyout occurs when the owner of a new building acquires the remaining lease term of a tenant from a different building, thereby freeing the tenant from their old lease obligations and allowing them to negotiate a new lease.
A Cancellation Clause is a provision within a contract that grants the right to terminate the agreed-upon obligations upon the occurrence of specified conditions or events.
Constructive eviction is a legal doctrine in real estate that allows tenants to terminate their lease and vacate the property when a landlord's actions or failure to act substantially interfere with the tenant's use and enjoyment of the premises.
Constructive eviction occurs when a property becomes uninhabitable due to a landlord’s actions or failure to act, allowing tenants to terminate their lease.
A Cotenancy Agreement in a shopping center lease allows a tenant to reduce rent, decrease payments for common area maintenance, or terminate the lease if other named tenants cease operations, also known as 'going dark'.
The term 'expire' refers to the end or termination of a lease, contract, or agreement after a specific period or upon the occurrence of a predetermined event. In real estate, expiration typically pertains to the conclusion of lease terms, rental agreements, or any legal document.
Notice in real estate refers to the official communication of a legal action or one’s intent to take an action. It serves to inform individuals or parties of important legal actions or changes regarding property and tenancy.
Reversion refers to the right of a lessor to possess leased property upon the termination of a lease. It is a critical concept in real estate, as it dictates the future interest in rental properties and land transactions.
Surrender refers to the cancellation of a lease by mutual consent of the lessor and the lessee, where both parties agree to terminate the lease agreement before its stipulated end date.
A tenancy from year to year, also known as a periodic tenancy, is a rental arrangement that continues for an indefinite duration, typically requiring a notice period for termination. This type of tenancy renews automatically at the end of each period (generally a year), unless either the landlord or tenant gives proper notice to terminate the lease agreement.
In real estate, to 'vacate' means for a tenant to terminate occupancy and leave the premises, usually at the end of a lease term or after giving proper notice. It involves removing all personal possessions and handing back the property to the landlord.
The Warranty of Habitability is an implied assurance given by a landlord that an apartment offered for rent is free from safety and health hazards.
