There are four (4) types of leasehold interests recognized by law today:
1. Periodic Tenancy,
2. Tenancy for Years,
3. Tenancy at Sufferance, and
4. Tenancy at Will.
A periodic tenancy is a leasehold interest that is for an indefinite period of time. Such a tenancy automatically renews at the end of each period unless one of the parties gives notice of termination. California law presumes that renting real property is for a period of 30 days.
Tenancy for Years
A tenancy for years has a fixed term and a definite termination date. The end date is often mutually agreed upon and as such, a notice to terminate is not required.
Tenancy at Sufferance
A tenancy at sufferance is referred to as a holdover tenancy and takes place when the tenant's rights to the property have expired and the tenant does not leave the premises. When the lease ends and the tenant does not leave, the owner may begin eviction proceedings.
Tenancy at Will
A tenancy at will is created without a rental agreement where a tenant has possession of the property with the owner's permission. Such an estate may end with 30-day notice by the landlord or automatically upon the death of the landlord or the tenant.
Do you have questions regarding your property interest? If so, please contact Aziz Legal by phone at (408) 203-4627 or email us at email@example.com.
This article is merely informational and is not intended to be used as legal advice. Use of any information from this article is for general information only and does not represent personal legal or tax advice, either express or implied. Readers are encouraged to consult Aziz Legal, or another attorney, for any specific legal matters.