16:47
thanks guys, im fucking stoked. its my first decision so far
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Simple English definitions for legal terms
entire tenancy
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A quick definition of entire tenancy:
An entire tenancy is when one person has possession of a property under a lease or ownership agreement. It can be for a fixed period of time or indefinite. This is different from a joint tenancy, where multiple people have equal ownership and a right of survivorship. A tenancy at will is when a tenant has possession with the landlord's consent but without fixed terms. A periodic tenancy automatically continues for successive periods unless terminated by notice. A tenancy in common is when multiple people have ownership but no right of survivorship.A more thorough explanation:
Tenancy refers to the possession or occupancy of land or property under a lease or conveying instrument such as a deed or will. It can also refer to the period of such possession or occupancy.
- Periodic tenancy: A tenant rents an apartment on a month-to-month basis. The lease automatically renews each month unless terminated by either party with proper notice.
- Tenancy in common: Two siblings inherit a house from their parents and each owns a 50% undivided interest in the property. They have equal rights to possess the entire property but no right of survivorship.
- Tenancy at will: A landlord allows a friend to stay in their spare room without a formal lease or fixed terms. The tenancy can be terminated by either party at any time with fair notice.
These examples illustrate different types of tenancy arrangements and their characteristics, such as fixed duration, joint ownership, and termination rights.