Identify the parties to a lease Describe the legal characteristics of a lease Describe the various leasehold estates LESSON 22-1 A lease is an agreement in which one party receives temporary possession of anothers property in exchange for rent.LessorLessee FOR Chapter 22 3 Agreement between parties Amount of rent Who repairs what Amount of Security, Cleaning, and Animal Deposit >1 year needs to be in writing Periodic Tenancy Tenancy for years Tenancy at sufferance EVICTION!!!!! Tenancy at will Tenancy means rent Explain the tenants right to use the property Tell how a lease can be transferred Explain the duty to pay rent LESSON 22-2 Right of possession (temporary) Right to use the property (Normal Wear and Tear) Right to assign the lease or to sublet Rental Insurance Constructive Eviction NO RENTAL PAYMENT Duty to pay rent Duty to take care of the property Torts duty Lessors rights when rent is not paid Lessors duties to maintain the premises Lessor is liable for injuries on the property Lessors duties under the Fair Housing Act LESSON 22-3 Chapter 22 9 Right to the rent Tenant vacates early (Mitigate) Tenant fails to vacate (Eviction) Right to security deposit Right to regain the realty and fixtures Chapter Maintain the premises Torts duty Property taxes Fair Housing Act Duties Duty of voluntary termination Military Lease Clause Chapter No exposed electrical wiring. The roof shall not leak. Outside doors and windows have tight-fitting screens. Have private bathroom. Gas stove properly vented and connected.