Exam (elaborations)
New Mexico Broker Basics Unit 3 Property Management test questions and answers
- Course
- Institution
New Mexico Broker Basics Unit 3 Property Management test questions and answers
[Show more]
Content preview
New Mexico BrokerBasics Unit 3 Property
Management test
questions and answers
Less than freehold estates are
Estates of possession only and are generally called leasehold estates
Estates for years
Most common leasehold estate. Specifies an exact duration for the
tenancy with a definite termination date
Estates from period to period
Has no definite termination date and will automatically renew for
successive periods until one party gives notice of termination
Estates at will
Gives the tenant the right of the tenant to possession with the consent of
the landlord, but the term of the estate is more indefinite than periodic
tenancies
Estates at sufferance
Occurs when a tenant remains in possession without the consent of the
landlord and is also called a holdover tenant.
A lease is
An agreement in which the landlord (lessor) gives tenant (lessee) the right
to use and to have exclusive possession of real estate for a specified
period in consideration of the payment of rent
Waste is
Anything the tenant does or does not do that injures or changes the
essential character of the landlord's reversion (the property reverts to the
owner after the lease)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75057 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now