Contracts
A lease agreement is a contract that creates a:
AFee simple interest in the tenant
BLeasehold estate giving the tenant the right to use and occupy the property✓ Correct
CLicense to use the property revocable at will
DLife estate for the duration of the lease
Explanation
A lease creates a leasehold estate — a possessory interest in real property for a defined term in exchange for consideration (rent).
Related New Jersey Contracts Questions
- During the NJ attorney review period, which of the following is true?
- In New Jersey, the attorney review clause in a standard residential sales contract provides that either party may cancel the contract within:
- A NJ seller who fraudulently conceals a known material defect from the buyer may be held liable for:
- Unconscionability as a contract defense means:
- A contract for the sale of New Jersey real estate that is NOT in writing is generally:
- Under New Jersey contract law, the attorney review period for a residential real estate contract is:
- The NJ attorney review period begins:
- The NJ Seller's Disclosure Notice is required for which of the following transactions?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →