New York Real Estate Salesperson ExaminationContractsMedium
A tenant has a one-year lease agreement for an apartment that expires on December 31st. In November, the landlord sends a notice stating that the lease will not be renewed, and the tenant must vacate by December 31st. This type of lease is classified as a(n):
- ATenancy at will.
- BEstate for years.
- CTenancy at sufferance.
- DPeriodic tenancy.
Show answer & explanationAnswer & explanation
Correct answer: B. Estate for years.
An 'estate for years' (or 'tenancy for years') is a leasehold estate for a fixed period of time, with a definite beginning and end date. It does not automatically renew, and no notice is required for termination at the end of the term, though it's often given as a courtesy.
Why the other options are wrong
- A. A tenancy at will has no fixed duration and can be terminated by either party with proper notice.
- C. A tenancy at sufferance occurs when a tenant remains in possession after their legal right to occupy has expired, without the landlord's consent.
- D. A periodic tenancy has a definite initial period but automatically renews for successive periods (e.g., month-to-month) until proper notice is given.
Estate for Years
A leasehold estate that lasts for a fixed period of time, with a definite beginning and end date, and does not automatically renew.
- Fixed term (e.g., 1 year, 6 months).
- No notice required for termination at end of term.
- Automatically terminates on the specified end date.
- Can be for any specific duration, not just 'years'.
Memory trick: Years, Period, Will, Suffer: The four lease types.