tenancy for years

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Fixed Term Lease

A lease binding the parties to each other for a specified period of time, such as a month or a year. That is, the fixed-term lease requires the lessee to make periodic payments and requires the lessor to surrender use of his/her property. A fixed term lease is also called (somewhat misleadingly) a tenancy for years.
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tenancy for years

A leasehold interest for a fixed term, which may be month to month. The more proper term is a periodic tenancy. Do not confuse with a tenancy at will, which is usually a month-to-month tenancy that arose because of some defect in the originally planned lease between the parties.

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