Unit 5: Leases Used in in the Minnesota Real Estate Business Rated A+
Lease Types
Which type of tenant often uses a percentage lease? Options: a. Retail; b. Office; c. Residential; d.
Industrial
Answer: a. Retail;
Lease Agreements
What is a potential disadvantage for a buyer who enters ...
Unit 5: Leases Used in in the Minnesota Real Estate Business Rated A+
Lease Types
Which type of tenant often uses a percentage lease? Options: a. Retail; b. Office; c. Residential; d.
Industrial
Answer: a. Retail;
Lease Agreements
What is a potential disadvantage for a buyer who enters into a lease with an option to buy contract?
Options: a. The buyer/lessee could lose any funds credited to the purchase price if he breaches the
lease's terms; b. The buyer/lessee could be forced to purchase the property if he decides not to; c. The
buyer/lessee could negotiate a better purchase price; d. The buyer/lessee could get a better interest
rate
Answer: a. The buyer/lessee could lose any funds credited to the purchase price if he breaches the
lease's terms;
Ground Lease
In a ground lease situation, what does the ground tenant own? Options: a. The land only; b.
Improvements (including buildings); c. The buildings only; d. Nothing
Answer: b. Improvements (including buildings);
Security Deposits
In Minnesota, what is true about interest earned on a security deposit? Options: a. Interest accrues at
the end of the year; b. Interest accrues at the first day of the month following its deposit; c. Interest is
waived; d. Interest is not earned
Answer: b. Interest accrues at the first day of the month following its deposit;
Tenant Responsibilities
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