BUL 4421 Lecture Notes - Lecture 14: Underwriting, Arbitration Clause, Casualty Insurance

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3 Oct 2018
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Chapter 50:
Landlord aka lessor
Lessee aka tenant
Some landlord-tenant relationships are private/public, aka city of orlando leasing something to a
company.
Lease contract contains:
1. Names of tenants
2. Express or implied intent to making a landlord-tenant relationship
3. Description of property
4. Length
5. Rent amount
Exclusive right to possession of property is a key characteristic of the landlord tenant
relationship.
Definite term lease- automatically expires at end of specified term
Periodic tenancy lease- creating for a recurrent term, aka month to month
tenancy -at- will lease- may terminate lease at any time
Tenancy at suferance lease- landlord may permit tenant to remain on property or to demand
repossession.
Fair housing act- lanlord may not discriminate against a person based on race, sex, religion, natl origin, or
disability.
Covenant of quiet enjoyment- promise that the tenant has right to quietly enjoy the land, and landlord may
not interfere.
Full eviction- if landlord doesn’t allow you to enter the premises at all
Partial eviction- if you aren’t allowed to enter certain parts of the premises.
Constructive eviction- if landlord makes it unable to live there bc of something he did.
Implied warranty of habitability- req.that the premises be fit for ordinary residential purposes.
Waste- if tenant changes property, ie. if he cuts down all the trees, he has committed waste.
Tenants cannot make alterations either.
Landlords are responsible for repairs to common areas.
Rent escalation clause- allows landlord to raise rent during a lease.
Landlord’s lien- landord’s right to all or some of tenants property if they do not pay rent.
Landlords can expected to keep common areas safe, if an injury occurs in a common area, the
landlord is likely to be responsible.
Transfer of tenant’s entire interest in a leased property is an assignment.
Sublease- transfer of less than all the interest in a leased property.
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