TENANT LANDLORD LAWS

Tenant Landlord Laws

Part I

What is the difference between real property and tangible personal property?

Real property includes land and buildings, and everything placed on the ground. For a business, real estate includes warehouses, factories, offices and other buildings owned by the company (Hill, 2004).Real estate includes only those structures that are put to the ground, not those that can be removed, like equipment.

Tangible personal property refers to all physical assets, excluding real estate. It is distinct from moveable and immovable property rights. Often referred to as chattels, goods, or items of value, tangible personal property has different standards for the transfer and protection of other property (Hill, 2004)

Difference between property and ownership interest in real estate

Property Interest

Real estate property can manifest itself in many ways. There are also many ways in which someone without any ownership of a property may have certain rights to its use (Poster, 2006).Real estate professionals need to know this information to properly advise their clients the buyer and seller in terms of property rights over a property.

Possessory interests in real estate.

This interest rate is a legal creation(Williams,2002)NJSA 3B: 28-3 states that during their life,every married person has the right to joint tenancy with their spouse of any real property occupied together as their primary residence.

Type of Tenancies

Fixed-term tenancy

As you can tell by the name, a contract for a fixed term lease has a fixed date of start and end (Rhodes,2008).This type of lease is generally in favor of the landowners who want to lock in a longer holiday period can be used for any duration. Periodic tenancy

A periodic tenancy has no specific starting or ending date. It is in progress from week to week, month by month or year to year (Rhodes, 2008). Week after week and month to month leases are popular with tenants,while year to year are more popular with business owners.

Tenancy at Will

A lease will be recommended if you are looking for leasing property for short term and have reliable tenants you can trust. Ending a tenancy at will is very easy and fast (Hallenborg, 2002). Most times all you have to do is tell your tenant 30 days notice Tenancy at sufferance (also known as lease remaining)

When your tenant's lease has expired and he overstays his welcome and continues living in your rental property it is referred to as tenancy at sufferance (Hill,2004).

Part II

Tenant laws in New York and Massachusetts

In Massachusetts the tenants pay a security deposit to the landlord must give a receipt for this payment. The tenant is also entitled to receive 5 percent interest on security deposit to be held in an interest in Massachusetts has discovered (William,2010)The tenant must receive a receipt for the deposit of stripping the bank name, address, account number and the amount deposited. Bank interest is paid to the tenant by the owner of each year on the anniversary of the date of moving.

Massachusetts law protects tenants from excessive input of ...