Leasing Real Estate
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A lease of real estate is an agreement or contract for possession of real estate for a certain period of time and for certain uses. The owner of the real estate is known as the "lessor" or "landlord." The person renting the real estate is known as the "lessee" or "tenant." The term of the lease specifies how long the real estate is to be rented. The time period may be for a certain period of time or indefinite. Other types of leases are known as "periodic estates" which means that they run for successive periods of time, often month-to-month. Upon conclusion or termination of the lease, possession of the real estate reverts back to the owner. Please see specific state for details and/or differences.
Discussion of leases is covered more fully in "LANDLORD AND TENANT" by LAWCHEK?. Black's Law Dictionary, Fifth Edition.Leasing Real Estate
This is not a substitute for legal advice. An attorney must be consulted.
ALABAMA For Alabama, a lease of real estate with a term of more than one (1) year must be in writing and must be signed. To be effective against creditors and subsequent purchasers without actual knowledge of the lease, a lease with a term of twenty (20) years must be recorded. Alabama Code §35-4-6. ALASKA For Alaska, a lease of real estate with a term of more than one (1) year must be in writing and must be signed. To be effective against creditors and subsequent purchasers without actual knowledge of the lease, a lease with a term of more than one (1) year must be recorded. Alaska Code §09.25.020 and 34.15.260. ARIZONA For Arizona, a lease of real estate with a term of more than one (1) year must be in writing an...
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