Asked by Claudia Morris on Jun 10, 2024
Verified
Iago has a tenancy for years apartment rental agreement with Ranch Apartments.When the agreement ends in March,Iago asserts a right to renew,while Ranch states that the rental agreement ended without notice.Which party is correct?
A) Iago,since there is an implied renewal right.
B) Ranch,since no statute requires a party to give notice when ending a lease.
C) Iago,since the tenancy for years must at least continue until the end of the calendar year.
D) Ranch,since the tenancy for years automatically terminates on the expiration of the stated term.
Tenancy for Years
A leasehold interest in property for a definite period, which could be for any set length of time.
Implied Renewal Right
An implied renewal right is a legal principle that suggests a contract or agreement extends automatically beyond its original term unless one party gives notice to end it.
- Identify the responsibilities and entitlements of tenants, especially concerning unlawful eviction and property abandonment.
Verified Answer
AB
Alondra BelloJun 11, 2024
Final Answer :
D
Explanation :
A tenancy for years automatically terminates on the expiration of the stated term without notice requirement. Therefore, Ranch is correct in stating that the rental agreement has ended without notice. Iago does not have an implied renewal right unless it is specifically stated in the agreement or allowed by local law. The fact that the tenancy for years must continue until the end of the calendar year does not apply in this case since the agreement ended in March.
Learning Objectives
- Identify the responsibilities and entitlements of tenants, especially concerning unlawful eviction and property abandonment.