100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MA Salesperson Exam Module 7: Leases Study Guide Solutions $11.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. MA Salesperson
  4.  
  5. MA Salesperson

Exam (elaborations)

MA Salesperson Exam Module 7: Leases Study Guide Solutions
 2 views  0 purchase
  • Course
  • MA Salesperson
  • Institution
  • MA Salesperson

MA Salesperson Exam Module 7: Leases Study Guide Solutions Leases - ANSWER--also known as tenancy for years, estate for years, interest for years, or demise -written conveyance of possession but not ownership of real estate, for some specific period of time privity of estate - ANSWER-a legal re...

[Show more]

Preview 2 out of 6  pages

Document information

  • November 4, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ma salesperson exam module 7 leases study guide s

Written for

  • MA Salesperson
  • MA Salesperson

Seller

avatar-seller
KaylinHoffman

Content preview

Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




MA Salesperson Exam Module 7: Leases

Study Guide Solutions


Leases - ANSWER✔✔--also known as tenancy for years, estate for years, interest for years, or demise


-written conveyance of possession but not ownership of real estate, for some specific period of time


privity of estate - ANSWER✔✔-a legal relationship between two people with interests in the same

property


the longest lease can last - ANSWER✔✔-99 years


leases longer than 7 years - ANSWER✔✔-must be recorded in the state or MA


Leases are - ANSWER✔✔-non-freehold interests


revisionary interest - ANSWER✔✔-right to regain possession after the lease is over


usable square footage - ANSWER✔✔-the actual square footage the lessee can occupy within the walls of

the leased premises and is responsible for


rentable square footage - ANSWER✔✔-the leased premises plus a percentage of any common areas

maintained by the lessor and used by the lessee


additional square footage - ANSWER✔✔-also known as common area load, common area factor, or load

factor and ranges from 5-15% of the usable square footage in commercial leases


rent calculated in commercial leases - ANSWER✔✔-based on annual price per square foot



Copyright ©Stuvia International BV 2010-2024 Page 1/6

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


build out - ANSWER✔✔-fit up, fit out


the landlord or tenant pays to modify the space for a particular business


lease negotiation decided if the tenant or lessor pays for this, is often split


leases run - ANSWER✔✔-with the land


Certificate of No defense - ANSWER✔✔-or estoppel certificate, used to confirm the lease when the

property is sold


doctrine of estoppel - ANSWER✔✔-states that once you cause another to rely on your words you cannot

go back on your promises. Prevents the tenant from attempting to renegotiate or defraud the new

property owner. Also used when loans are sold, and verbal tenancy agreements


subletting - ANSWER✔✔-the act of transferring a portion of one's rental interest to a third party


assigning - ANSWER✔✔-the transfer of all the remaining interest to a third party


novation - ANSWER✔✔-the cancellation of the lease contract, and transfer of the remaining portion of

the lease to a third party under a new contract. Relieves the lessee of their obligations under the lease


Termination of lease via performance - ANSWER✔✔-leases automatically terminate at the end of their

term


Termination of lease via surrender - ANSWER✔✔-cancellation of the lease prior to expiration


Termination of lease via action of law - ANSWER✔✔-eminent domain taking, tax sale, bankruptcy


Termination of lease via destruction - ANSWER✔✔-the property is damaged




Copyright ©Stuvia International BV 2010-2024 Page 2/6

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 KaylinHoffman. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80796 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart