Who Is a Mortgagee

question 1

Essay

Who is a mortgagee?

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Definitions:

Periodic-Tenancy Lease

A rental agreement that automatically renews for successive periods (such as monthly or yearly) until either party terminates it.

Tenancy-At-Will Lease

A lease that may be terminated by the parties at any time.

Tenancy-At-Sufferance Lease

A lease that is created when a tenant who was lawfully in possession of a leased property remains in possession of that property unlawfully after the lease ends because the person with the power to evict him failed to do so.

Landlord-Tenant Relationship

A legal arrangement between the owner of a property (landlord) and a person who has been granted temporary possession (tenant).