Thursday, February 16, 2017

Tenancy At Will : Real Estate Investing 101

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 tenancy at will is a tenancy where either party has the right to terminate the leasehold agreement.  The creation of a tenancy at will must be expressly created so that both parties have a firm understanding that their lease can be terminated by either party at any time.  If only the landlord has the right to terminate, most courts will read into the lease the right for the tenant to terminate.  If only the tenant has the right to terminate most courts will read the conveyance as a life estate or periodic tenancy.  To be clear, a tenancy at will must expressly state that BOTH parties have the right to terminate the lease at any time throughout the lease.  

To terminate a tenancy at will either party may give notice that the agreement (tenancy at will) has been terminated.  A tenancy at will can also be terminated by operation of law if (1) one party dies (2) one party commits waste (3) the tenant tries to assign their interest (4) landlord transfers their interest in the property or (5) landlord executes a periodic or written agreement/lease.

Let me explain further....

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