Property Management
In Connecticut, a 'holdover tenancy' occurs when a tenant:
AMoves in before the lease start date
BRemains in possession of the rental unit after the lease has expired without the landlord's eviction action✓ Correct
CHolds the keys to a unit they have not moved into
DSubleases the unit to another person
Explanation
A holdover tenancy (tenancy at sufferance) occurs when a tenant stays beyond the lease term. The landlord may choose to treat this as a month-to-month tenancy by accepting rent, or begin eviction proceedings.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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