Property Management
An Oklahoma commercial tenant's lease expires and the parties have not renewed. The landlord accepts another month's rent payment. Under Oklahoma law, this likely creates:
AA new 5-year lease by default
BA month-to-month tenancy; the acceptance of rent generally converts the holdover tenancy into a periodic tenancy on the same terms as the expired lease✓ Correct
CThe tenant must vacate within 72 hours
DThe tenant acquires permanent occupancy rights
Explanation
When a landlord accepts rent after a commercial lease expires without a new agreement, it typically creates a holdover periodic tenancy (often month-to-month or year-to-year depending on the lease term and jurisdiction). The landlord should be careful about accepting rent if they want the tenant to leave.
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