What Does Tangible Personal Property Mean?

Topics: Real estate, Renting, Leasehold estate Pages: 3 (703 words) Published: November 22, 2011
LqPart I.
Yanin Padron Hernandez
Unit 5

What Does Tangible Personal Property Mean?

Tangible Personal Property
Tangible personal means all the prpoerty that inside the building. It also includes Tangible personal property is the opposite of real property is what you can’t move. Possessory interest is when a person is to occupy and/or exercise control over a particular plot of land. A possessory interest is “distinguished from an interest in the title to property, which may not include the right to immediately occupy the property”. Example: a long-term lease. (The People's Law Dictionary 2005)

Describe and give examples of the following: The following terms are the same; Tenancy for a term of years is a lease for a fixed period of time. Example a lease for two years, there is no need for notice of termination. Fixed term lease - A lease that expires without notice.

What are the Major Features of a Fixed Term Tenancy/Tenancy for Years? They both have a starting date and an ending date.
A tenancy is usually 1 to 2 years and a fixed for shorter periods. They both are terminated without notice.
What Happens When the Fixed Term Tenancy/Tenancy for Years Expires? You may choose to renew the contract or move out.
What is a periodic tenancy?
“A tenant that doesn’t sign a lease is a month to month tenant. This is what is called a periodic tenancy.”

(Propertydo.com 2011)

Tenancy at will - Definition Lease that has no expiration date, but that can be cancelled at anytime time by either landlord or tenant.

Compare and contrast joint tenancy and tenancy in common.
Joint tenancy is the ownership by two or more people of a property. Each one has equal rights to the property. All decisions must be made collectively.

Part II:
My home state: Louisiana
Identify which state is your home state and answer the following questions: 1. Which state provides greater tenant rights and protections? Louisiana – During the lease, the...
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