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Holdover tenancy
Holdover tenancy A tenancy whereby a lessee retains possession of leased property after the lease has expired and the landlord, by continuing to accept rent, agrees to the tenant's continued occupancy as defined by state law.
RELATED TERMS--------------------------------------
Tenancy
A holding, as of land, by any kind of title, occupancy of land, a house or the like under a lease or on payment of rent or tenure.
Lessee
An individual (i.e., tenant) to whom property is rented under a lease.
Possession
The condition of having signed all the papers at closing and having received keys to the house.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Lease
A contract whereby the landlord grants the tenant the right to occupy defined space for a set period at a specific price (i.e., rent).
Landlord
One who rents property to a tenant.
Rent
Compensation from tenant to landlord for the use of real estate.
SIMILAR TERMS--------------------------------------
Hold period
The length of time for which you keep a mortgage before repaying it or remortgaging.
Hold-harmless clause
A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction.
Holdbacks
A portion of a loan commitment that is not funded until an additional requirement is met, such as completion of construction
Holder in due course
The holder of a negotiable instrument (check or note) purchased for value when the instrument appears complete and regular on its face.
Holding period
The length of time an investor expects to own a property from purchase to sale
Holdover Tenant
A tenant who remains in possession of leased property after the lease term expiration.
PREVIOUS AND NEXT TERMS--------------------------------------
Hold period
The length of time for which you keep a mortgage before repaying it or remortgaging.
Holdbacks
A portion of a loan commitment that is not funded until an additional requirement is met, such as completion of construction
Holder in due course
The holder of a negotiable instrument (check or note) purchased for value when the instrument appears complete and regular on its face.
Hold-harmless clause
A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction.
Holding period
The length of time an investor expects to own a property from purchase to sale
Holdover tenancy
Holdover Tenant
A tenant who remains in possession of leased property after the lease term expiration.
Holiday home
A larger deposit may be asked for a mortgage on a holiday home. The interest rates charged may also be higher than normal.
Holiday house
Usually a furnished house available to rent for periods of 1 day to many weeks. Found in holiday areas such as Pearl Beach
Holographic will
Will written in the testator's handwriting and not witnessed.
Home Buyer’s Report
A property survey. More detailed than a valuation report - should itemize problems and major defects. Not as in depth as a full structural survey.
This dictionary contains 6433 terms. |
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