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WEICHERT REAL ESTATE SCHOOL CHAPTER 12 QUESTIONS AND ANSWERS $16.99
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WEICHERT REAL ESTATE SCHOOL CHAPTER 12 QUESTIONS AND ANSWERS
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Lease - ANSWER-transfer the right to possession and use of the owner's property to the tenant for a specified period of time Lessee - ANSWER-Renter / Tenant Lessor - ANSWER-Owner Demise - ANSWER-transfer of property by lease A lease is both a _______________________ and a ______________...

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  • January 28, 2025
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • weichert real estate school chapter 12 questions a
  • weichert real estate school chapter 12 answers
  • lease answer transfer the right to possession a

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WEICHERT REAL ESTATE SCHOOL
CHAPTER 12 QUESTIONS AND
ANSWERS
Lease - ANSWER-transfer the right to possession and use of the owner's property to
the tenant for a specified period of time

Lessee - ANSWER-Renter / Tenant

Lessor - ANSWER-Owner

Demise - ANSWER-transfer of property by lease

A lease is both a _______________________ and a _________________________. -
ANSWER-Contract (both parties have conditions to follow) / Conveyance (grants a
leasehold estate)

NJ Statute of Frauds mandates that all leases over _______ years be in writing. -
ANSWER-Three

Four types of leasehold estates - ANSWER-Estate for years, periodic estate, estate at
will, estate at sufferance

Estate for Years (Any specific amount of time...not necessarily years) - ANSWER-Lease
that continues for a definite period of time with a specific termination date (neither party
can terminate without proving the lease has been breached unless they mutually agree
to terminate)

Periodic Estate - ANSWER-Lease that continues for an indefinite period of time without
a specific expiration date / lease continues for similar succeeding periods until one of
the parties gives notice to terminate

month-to-month tenancy - ANSWER-a type of lease when a tenant takes possession
with no definite termination date and pays rent on a monthly basis

Holdover tenancy - ANSWER-a tenancy from year to year after the expiration of a
periodic estate

Renters who stay beyond their lease could be liable for.... - ANSWER-double rent;
however, if the landlord accepts rent payments from them he/she has created a month-
to-month tenancy and can no longer sue for money

, Tenancy at Will - ANSWER-Tenant has the right to possess for an indefinite period of
time / Estate at will is indefinite but may be terminated with three months notice or the
death of either party (lessor/lessee)

A tenancy at will may be created by.... - ANSWER-an express agreement or by
operation of law

Tenancy at Sufferance - ANSWER-A tenant who lawfully came into possession of real
estate continues after his/her rights have expired to hold possession of the premise
without the consent of the landlord

In order to get a tenant at sufferance out, a landlord must start - ANSWER-eviction
proceedings

Tenancy at Sufferance is the.... - ANSWER-lowest estate in land (Opposite of fee
simple absolute)

A lease may be ..... - ANSWER-oral, written or implied

The essentials of a valid lease.... - ANSWER-capacity to contract (sane adults), a
demising clause (lessor to let and the lessee to take the premises), description of the
premises, clear statement of the duration, the rent and how it is to be paid, must be in
writing if over three years, the signatures (signed by both parties)

Lessor may restrict the lessee's use of premises through - ANSWER-provisions
included in the lease (for example, the leased property is ONLY to be used as a real
estate office). In the absence of any provisions, a lessee may use the premises for any
lawful purpose.

Term of lease - ANSWER-Duration, end and start date should be included in a lease

NJ Requirements for Leases (Similar to Sales Contracts) - ANSWER-CIS, Attorney
Reveiw, Lead Based Paint Disclosures,

EPA conducts unannounced inspections of transaction files and leases in brokers'
offices and it has.... - ANSWER-levied substantial fines when there is no proof of the
required disclosures having been made.

Security Deposits - ANSWER-Guarantees payment of rent and safeguards against the
lessee's destruction of the property / No more than one and 1/2 rent


When the landlord furnishes heat between October 1 and May 1, all rooms must be
heated to at least ______ degrees and at least _____ degrees at night. - ANSWER-68 /
65

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