Okay, the secret is out. I am currently studying for my bar exam. In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor. I figured since I was studying anyways, I might as well put each topic one video at a time. I also started a YouTube channel which can be seen here.
A leasehold estate is an interest in land. The tenant has a present possessory interest in the land and the landlord has a future interest in the property (a reversion). Certain rights and liabilities are derived by a leasehold estate. Three major leasehold estates exists (1) tenancies at will (2) periodic tenancies and (3) tenancy for years.
A Tenancy at Will is where there is not set time and the tenant and landlord can cancel the relationship at anytime.
A Tenancy for Years is where the relationship is fixed to a specific time period. It may be for more or less than a year and terminates upon the expiration of the specified time period.
A Periodic Tenancy is formed period by period, when one period ends the next begins. For there to be a periodic tenancy, the start date must be certain but the end date is always not certain. This happens by implication or when a tenant stays over there past lease. Notice is required for termination of a periodic tenancy.
Let me explain....
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