A tenancy for years, despite its name, is a lease that is set for a specific period of time determined within a contractual obligation.
Because the term of years tells us from the start when it will end, no notice is necessary to terminate the tenancy.
A tenancy for years greater than 1 year must be in writing in order to satisfy the Statute of Frauds.
In contrast, a Tenancy at will, or rental, is a lease that is set for no formalized period of time, usually for an assumed period of time, which can be changed at will by the renter.
|
