Estate for years

An estate for years is a lease agreement with a definite starting and ending date. The tenant is required to leave when the lease expires, and the landlord isn't required to give the tenant notification to leave the premises. Neither is the tenant required to give notification to the landlord that she's leaving. Commercial property leases generally create an estate for years. No automatic renewal of an estate for years is available, but a new lease can be negotiated. Also, the agreement survives the landlord's death or the sale of the property. Note: In spite of the name, the lease could be for a term shorter than a year.

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