What describes a tenant occupying a property with permission but without a fixed term?

Study for the FBLA Real Estate Exam with flashcards and multiple choice questions that offer hints and explanations. Prepare effectively for success in your exam!

Multiple Choice

What describes a tenant occupying a property with permission but without a fixed term?

Explanation:
A tenant occupying a property with permission but without a fixed term is properly described as having a tenancy at will. This arrangement indicates that the tenant can occupy the property as long as both the landlord and tenant agree to the tenancy, but there is no specified duration tied to the lease. This type of tenancy allows for more flexibility, as either party can terminate the arrangement with reasonable notice, often defined by local laws or the terms established between the landlord and tenant. In contrast, a periodic tenancy typically involves leases that renew automatically at set intervals, such as weekly or monthly, hence it has a determined duration that recurs until terminated. A fixed tenancy, on the other hand, is a lease agreement that runs for a specific length of time, such as a one-year lease, and cannot be altered or terminated without a significant reason spelled out in the lease. Month-to-month tenancy is a specific type of periodic tenancy that allows for one-month durations and can be terminated more frequently but still has a structured renewal pattern, which distinguishes it from a tenancy at will.

A tenant occupying a property with permission but without a fixed term is properly described as having a tenancy at will. This arrangement indicates that the tenant can occupy the property as long as both the landlord and tenant agree to the tenancy, but there is no specified duration tied to the lease. This type of tenancy allows for more flexibility, as either party can terminate the arrangement with reasonable notice, often defined by local laws or the terms established between the landlord and tenant.

In contrast, a periodic tenancy typically involves leases that renew automatically at set intervals, such as weekly or monthly, hence it has a determined duration that recurs until terminated. A fixed tenancy, on the other hand, is a lease agreement that runs for a specific length of time, such as a one-year lease, and cannot be altered or terminated without a significant reason spelled out in the lease. Month-to-month tenancy is a specific type of periodic tenancy that allows for one-month durations and can be terminated more frequently but still has a structured renewal pattern, which distinguishes it from a tenancy at will.

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