Ownership and estates
Estate for years
A lease with a definite beginning and a definite end
Despite the name it can be any length — a week, a month, ninety-nine years — provided the end date is fixed. It expires by its own terms, so no notice is required from either side to end it.
How the exam asks about it
"Definite termination date" and "no notice required" are the two facts tested. The name is deliberately misleading and the exam knows it.
Related terms
Sitting the license exam? Find out what you actually know.
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