Title: Illustrate at least four types of leasehold estates.
Course: Real Estate (12154) > Section: Describing Leases and Real Property Management

Illustration should include a lease defined as a contract between an owner of real estate (the lessor) and a tenant (the lessee) to transfer the lessor’s rights regarding the possession and use of the property. Description of estates should include

- estate for years—a leasehold estate that continues for a definite period of time
- estate from period to period—a periodic tenancy situation in which the landlord and tenant enter into an agreement for an indefinite time
- estate at will—a leasehold estate that gives the tenant the right to possess property with the landlord’s consent for an unspecified or uncertain term
- tenancy at sufferance—a leasehold estate that arises when a tenant who lawfully possessed real property continues in possession of the premises without the landlord’s consent after the rights expire.

DPOR correlations: 18VAC135-20-400. 4 (Contracts); 18VAC135-20-400. 8 (Leases)

Process/Skill Questions:

- What rights are extended to tenants under leasehold estate agreements?
- Who would benefit from each of the forms of leasehold estates?
- When would an estate from period to period be the best application?
- What behavior would demonstrate tenancy at sufferance?
- Why would an estate at will be terminated?
- What are the requirements or circumstances that end different types of leaseholds?
- How are leasehold estates different from freehold estates?