Property Ownership
In NC, a 'tenancy at will' is a leasehold created when:
AA lease is signed for one year
BOccupancy occurs without a specific lease term, allowing either party to terminate with proper notice✓ Correct
CA tenant holds over after a fixed-term lease without renewal
DA court appoints a tenant to manage abandoned property
Explanation
A tenancy at will exists when occupancy is permitted without a fixed term, allowing either the landlord or tenant to terminate by providing proper notice per NC law.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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