Legal Definitions - Term of years

A term of years (also known as a "tenancy for years") describes a type of leasehold estate that lasts for a fixed, definite period of time. This period is established at the beginning of the lease and has a specific start and end date. Crucially, the term does not need to be for an actual "year" or multiple years; it can be for any definite duration, such as a month, a week, or even several decades. Once the specified period ends, the tenancy automatically terminates without either party needing to give notice.

• Example 1: Residential Apartment Lease

  A college student signs a lease agreement to rent an apartment for the academic year, from September 1st, 2024, to May 31st, 2025.

  This arrangement is a term of years because the lease has a clearly defined start date (September 1st, 2024) and an equally clear end date (May 31st, 2025), establishing a fixed period of nine months. The tenancy will automatically end on May 31st without further action from either the student or the landlord.

• Example 2: Commercial Warehouse Rental

  A manufacturing company leases a large warehouse space for a period of ten years, with the agreement beginning on January 1st, 2025, and concluding on December 31st, 2034.

  This scenario represents a term of years because the duration of the lease is fixed and definite from the outset, with specific start and end dates spanning an entire decade. The lease will automatically expire at the end of 2034.

• Example 3: Pop-Up Retail Store

  A small business owner rents a temporary retail space in a busy downtown area for a special three-week promotional event, from October 1st to October 21st.

  Even though this lease is for a very short period, it qualifies as a term of years because it has a precise, predetermined start date (October 1st) and end date (October 21st), defining a fixed duration of three weeks. The tenancy automatically ends on October 21st.