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Chapter 25 - Leases

Horizontales
A successful suit for __ performance compels the defaulting party to perform the contract obligation that was breached.
A tenant does not have to exercise a/an __, but the landlord must comply if the tenant does exercise it.
Percentage leases are used only for __ properties.
__ leases usually range from 5 - 15 years.
As a conveyance, a/an __ conveys an interest, called the leasehold estate, but does not convey legal title to the property.
A lease may terminate due to __.
A/An __ lease requires a tenant to pay for utilities, internal repairs, and a proportionate share of taxes, insurance, and operating expenses in addition to rent.
__ leases differ from commercial and other types of lease in that: lease terms are shorter, typically one or two years.
A/An __ lease allows the landlord to share in the income generated from the use of the property.
The parties must accept the lease, and communicate their __ to the other party, for the lease to take legal effect.
A valid lease creates obligations that survive the __ of the landlord or tenant, with certain exceptions.
Verticales
A lease for a period exceeding one year cannot be oral but must be in writing to be enforceable because of the __ of Frauds.
A/An __ lease requires the landlord to pay the property's operating expenses, including utilities, repairs, and maintenance, while the tenant pays only rent.
The lease must identify the property by __ description or other locally accepted reference.
A landlord or tenant who violates any of the terms and covenants of the lease has breached the contract and is in __.
In a lease arrangement the renter is the tenant, or __.
URLTA aims to protect tenants from __ practices.
A/An __ lease conveys a leasehold interest to an owner of a cooperative.
In a lease arrangement, the owner is the __.
In conveying the leasehold estate, the landlord acquires a leased fee estate, which entails the rights to: receive __.
A/An __ has the sole right to occupy and use the premises without interference from outside parties, including the landlord.
A tenant must abide by all usage restrictions imposed by the lease's __ and regulations for the property.