Entity Property

Question 1

Entity Property

Answer 1

Governance strategy for management of resources, as opposed to true right to exlude

Question 2

Lease Types

Answer 2

1. Terms of years = fixed times
2. Periodic tenancy - auto-renewal unless notice of termination, typical notice is to pay a period in advance
3. Tenancy at will = no fixed term
4. Tenancy at sufferance = tenant hangs over after lease is over, requires OG terms are met until landlord evicts tenant

Question 3

Right of Quiet Enjoyment

Answer 3

Landlord Responsibilities:
1. Duty to disclose latent defects the landlord knew or should have known of (Sutton)
2. Duty to maintain common areas
3. Duty to make promised repairs
4. Duty to not fradulently misrepresent conditions of property (Sutton)
5. Duty to maintain furnished dwellings for short term leases (Sutton, Marrable)
6. Duty to abate immoral conduct or nuisances on property the landlord owns

Question 4

Independent Covenant Model

Answer 4

• Tenant bears of resuidial gains and losses
• Tenant bears risk associated with possession, including risk land turns out unfit for intended purpose; especially if not communicated (Sutton)
• To breach quiet enjoyment landlord must engage in some affirmative act with intent, nonfeasance (failure to execute a duty) is not enough