A tenant at will is a tenant who has the landlord's permission to stay on the property past the expiration of the rental agreement or who occupies rental property with the landlord's consent and makes rent payments without a written lease. There is a difference of opinion as to whether, to terminate a tenancy-at-will, the tenant must have notice or knowledge of such termination. According to some authorities, no notice is necessary to terminate a tenancy-at-will.
Nevertheless, there is support for the view that notice to or knowledge on the part of the tenant is required to terminate the tenancy and the tenant's right of possession. In some jurisdictions, notice is expressly provided for by statute.
Lessor and Lessee Definition: The terms "lessor" and "lessee" are often used in the context of legal agreements, particularly in the field of real estate and leasing contracts. These terms refer to the parties involved in a leasing or rental arrangement, where the lessor is the owner or landlord who grants the lessee the temporary use and occupancy of a property or asset in exchange for regular payments. 1. Lessor: A lessor is an individual, business entity, or organization that owns a property or asset and is willing to lease or rent it out to another party, referred to as the lessee. In this agreement, the lessor retains the legal ownership of the property while allowing the lessee to utilize it for a predetermined period. Types of Lessor Definitions: a. Residential Lessor: A residential lessor refers to someone who owns a house, apartment, or any other residential property that they choose to lease out to a lessee for residential purposes. b. Commercial Lessor: A commercial lessor is someone who owns commercial property, such as office spaces, retail units, or warehouses, and offers them for lease to businesses or individuals for commercial activities. c. Equipment Lessor: An equipment lessor owns specialized machinery, vehicles, or equipment and leases them out to lessees in various industries such as construction, manufacturing, or transportation. 2. Lessee: A lessee is the individual or entity who rents or leases a property or asset from the lessor with the intent to utilize it for a specific purpose. The lessee gains temporary possession and use of the property as permitted by the terms outlined in the lease agreement. Types of Lessee Definitions: a. Residential Lessee: A residential lessee is an individual or family who rents a property from a lessor for residential purposes, such as living in an apartment or house. b. Commercial Lessee: A commercial lessee refers to a business entity or individual who leases a commercial space for conducting business operations, such as opening a store, office, or restaurant. c. Equipment Lessee: An equipment lessee is a person or organization that leases specialized equipment for a specified duration, allowing them to utilize machinery or vehicles without bearing the financial burden of ownership. In summary, lessor denotes the property owner or asset owner who leases it out, while lessee refers to the individual or entity who rents or leases the property or asset from the lessor. Different types of lessors and lessees exist, including residential, commercial, and equipment lessors and lessees, each catering to specific industries and purposes within the realm of lease agreements.
