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Legal Terms - Fixed Term
A tenancy or lease with a definite term. A legally binding lease requires an agreed-upon start date and duration. The lease might start from the grant date, an earlier date, or up to 21 years in the future. The lease or tenancy ends automatically after the stated time without notice to quit. If the tenancy is assured, it will be converted to a statutory periodic tenancy at the conclusion of the term unless terminated by surrender or court order. A tenancy at will may emerge if the tenant retains possession after the term ends, whereas a periodic tenancy may arise if the landlord takes monthly rent payments from the tenant. See also: half a year, lengthy tenancy.
A tenancy or lease with a definite term. A legally binding lease requires an agreed-upon start date and duration. The lease might start from the grant date, an earlier date, or up to 21 years in the future. The lease or tenancy ends automatically after the stated time without notice to quit. If the tenancy is assured, it will be converted to a statutory periodic tenancy at the conclusion of the term unless terminated by surrender or court order. A tenancy at will may emerge if the tenant retains possession after the term ends, whereas a periodic tenancy may arise if the landlord takes monthly rent payments from the tenant. See also: half a year, lengthy tenancy.
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