tenancy at will

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Tenancy at Will

A lease binding the parties to each other on a month-to-month basis. A tenancy at will occurs because of some defect in the original lease that renders its term invalid.
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tenancy at will

A landlord-tenant relationship that arises because of some defect in a written lease or because the parties intended to execute a lease but,for some reason,never did.It continues for as long as both parties desire it to continue,usually on a month-to-month basis.Many consumer protection statutes require a minimum of 30 days notice before termination of a tenancy at will. (Do not confuse with a periodic tenancy, which may be from month to month and terminable upon a 30-day notice, but which was never intended to be anything more than a lease for an indefinite time.)

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.