Fixed-term Tenancy or Tenancy For Years
A fixed-term tenancy or tenancy for years lasts for some fixed period of time. Despite the name, such a tenancy can last for any period of time – even a tenancy for one week would be called a tenancy for years. At common law the duration did not need to be certain, but could be conditioned upon the happening of some event, (e.g. "until the crops are ready for harvest", "until the war is over"). In many jurisdictions that possibility has been partially or totally abolished.
Read more about this topic: Leasehold Estate
Famous quotes containing the word years:
“Every milestone of a firstborn is scrutinized, photographed, recorded, replayed, and retold by doting parents to admiring relatives and disinterested friends. . . . While subsequent children will strive to keep pace with siblings a few years their senior, the firstborn will always have a seemingly Herculean task of emulating his adult parents.”
—Marianne E. Neifert (20th century)