Estate for years
National Real Estate Exam glossary · Transfer Of Title
Definition
A leasehold estate that runs for a definite, fixed period with a specified beginning and end date. It terminates automatically at the end of the term without either party giving notice, and the tenant's death does not end it.
Estate for years in plain English
An estate for years is a lease with a clear start date and a clear end date locked in from the beginning — like a one-year apartment lease that runs, say, from January 1 to December 31. Because the end date is already set, the lease simply expires on its own when the term is up; nobody has to send a notice or remind anyone. (Despite the name 'for years,' it can be any fixed length, even a few months.) And it doesn't just vanish if the tenant dies partway through — the obligation carries on for the rest of the agreed term.
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