CMR LEASEHOLD ESTATES

COMPARISON
CHART

Type of Leasehold Definition Creation Termination

Tenancy for Years Tenancy that lasts for To T for 10 years. Terminates at the end
some fixed period of of the stated period
time. without either party
giving notice.

Periodic Tenancy Tenancy for some To T from month to Terminates by notice

fixed period that month. from one party at least
continues for equal to the length of
succeeding periods or the time period (e.g.,
until either party gives one full month for a
notice of termination. To T, with rent month-to-month
payable on the first tenancy). Exception:
day of every month. Only six months
notice is required to
or terminate a year-to-
year tenancy.
L elects to bind
hold-over T for an
additional term.

Tenancy at Will Tenancy of no stated To T for and during Usually terminates

duration that lasts as the pleasure of L. after one party dis-
long as both parties (Even though the plays an intention that
desire. language gives only L the tenancy should
the right to terminate, come to an end. May
L or T may terminate also end by operation
at any time.) of law (e.g., death of
a party, attempt to
or transfer interest).

To T for as many
years as T desires.
(Only T may
terminate.)

Tenancy at Tenant wrongfully Ts lease expires, but Terminates when

Sufferance holds over after T continues to occupy landlord evicts tenant
termination of the the premises. or elects to hold
tenancy. tenant to another
term.