tenancy

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Related to Leasehold estate: Fee simple estate

tenancy

1. the temporary possession or holding by a tenant of lands or property owned by another
2. the period of holding or occupying such property
3. property held or occupied by a tenant

tenancy

Occupation by one with less than a fee interest in property, e.g., a tenancy for life, or a tenancy for a term of years. The latter type of tenancy usually is created by lease.
References in periodicals archive ?
The ground lease should include rights in favor of the tenant to assign and mortgage the lease and the tenant's leasehold estate as security for the tenant's financing.
Because the combined income between the leased fee and leasehold remains unchanged regardless of how the income is allocated, traditional appraisal theory suggests that the value of the leasehold estate is measured in the difference between the fee simple and leased fee estates.
If there is a complete failure of consideration so that the tenant is, in the eyes of the law, not obtaining the leasehold estate for which the rent is consideration because of the landlord's interference with the premises, then - and if, but only if, the tenant also vacates possession - the tenant's obligation to pay rent is suspended.
The proposed definition applies equally to the fee simple estate of an industrial building in Topeka, to the leasehold estate of a service station in Cincinnati, and to the leased fee estate of strip stores in Little Rock.