A Transfer of the Tenant's Interest for a Part of the Premises

question 38

Multiple Choice

A transfer of the tenant's interest for a part of the premises or for a part of the term of the lease is known as a(n) :

• A) abandonment.
• B) constructive bailment.
• C) power of attorney.
• D) sublease.

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Definitions:

Living Trust

A legal document that allows an individual, the trustor, to designate another person, the trustee, to manage their assets for the benefit of a third party, the beneficiary, while the trustor is still alive.

Corpus

The principal amount of a trust or estate, as distinguished from income or interest generated by it.

Property Held

Assets owned by an individual or entity, including real estate, investments, personal property, and intellectual property.

Trust

A fiduciary arrangement wherein one party, known as the trustee, holds assets for the benefit of another party, known as the beneficiary.