real estate unit 15 legal aspects Flashcards


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created 1 year ago by yesi11
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1

I. tenancy

Renter’s right to take exclusive possession and use of the owner’s rental
unit in consideration for rent

2

F. rental unit

Owner’s house, duplex, condominium, or apartment made available to a
renter

3

D. periodic rental agreement

Month-to-month rental agreement

4

E. rental period

Length of time (days, weeks, months) between the rent payments

5

C. lease

Rental agreement with a predetermined length of time

6

G. security deposit

Refundable deposit that the landlord requires the tenant to pay at the
beginning of the tenancy

7

B. implied warranty of habitability

Requirement of landlords to maintain their rental units in a condition
that substantially complies with state and local building, health, and
safety codes

8

H. sublease

Arrangement in which a lessee rents his or her leasehold interest to
another party

9

A. assignment

Transfer of the entire leasehold estate to a new person

10

J. three-day notice

Notice instructing tenant to either leave the rental unit or comply with the
terms of the rental agreement

11

K. unlawful detainer action

Lawsuit to remove a tenant and return the rental unit to its owner

12

L. writ of possession

Legal document issued by the court commanding the tenant to leave the
premises within five days