Property Management
In Massachusetts, a 'tenancy at will' is best described as:
AA fixed-term lease for exactly one year
BA month-to-month tenancy that either party may terminate with proper notice✓ Correct
CA lease that cannot be terminated except by court order
DA holdover tenancy that automatically becomes a year lease
Explanation
A tenancy at will (Massachusetts's most common rental arrangement) has no fixed end date and can be terminated by either party with proper notice — typically 30 days or one full rental period, whichever is longer.
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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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