See: Estate For Years.

See: Periodic Tenancy.

An undivided ownership in real estate by two or more persons. The interest need not be equal, and, in the event of the death of one of the owners, no right of survivorship in the other owners exist.

(1) A holder of property under a lease or other rental agreement. (2) Originally, one who had the right to possession, irrespective of the title interest.

One who comes into possession lawfully, but holds over after the termination of his interest.

One who holds possession of premises by permission of the owner or landlord, but without agreement for a fixed term of possession.

See: Tenant Improvements.

One who operates a farm but is a tenant rather than the owner. Rent may be in cash, a share of the crops, or both.

See: Life Estate, Life Tenant.

Improvements to land or buildings to meet the needs of tenants. May be new improvements or remodeling, and be paid for by the landlord, tenant, or part by each.

One who owns property alone, without any other person being joined in said ownership.

See: Fee Tail.

The offer of money or performance in connection with a contract. If unjustifiably refused, places the party who refuses in default and gives rise to an action for breach of contract.

The materials used to reinforce concrete, such as cable and wire, which resemble human tendons.

A term now seldom used. A run-down apartment house, such as those which were common after World War II; overcrowded, cold water, etc.

Commonly used to refer to certain types of property such as multiple dwellings. Legally, any property, or property rights, which are of a permanent nature.

A map submitted by a subdivider to a planning commission for approval; approval is usually conditioned upon changes. The final map, embodying the changes, is recorded.

Manner of holding title subordinate to a superior interest. Derived from feudalism; the superior title was seisin.

Monthly payments to the borrower under this reverse mortgage continue so long as the borrower occupies the property, even if the payments exceed the market value of the property. See also: Reverse Mortgage.

A period of time, such as the term of a lease.

Under this reverse mortgage, the lender makes periodic payments to the borrower for a fixed time period rather than for the borrower’s lifetime or the time the borrower occupies the property. The borrower who uses this loan usually does not expect to outlive the term of the loan. An advantage of the loan is that the borrower may be able to receive larger monthly advances, since the lender knows exactly how much will be the maximum borrowed. See also: Reverse Mortgage.