Landlord
One who rents property to another, a lessor. A property owner who surrenders the right to use property for a specific time in exchange for the receipt of Rent. The landlord retains title to the property, but the rights of the tenant, or lessee, are spelled out in a Lease.

Land Contract
A land contract is essentially an instalment payment arrangement for purchasing land. It is also known as a contract for deed or instalment contract.

Landlord Tenant-Abandoned Property
Abandoned property is property left behind intentionally and permanently, often by a tenant, when it appears that the former owner or tenant has no intent to reclaim or use it.

Landlord Tenant-Amendment
Once a lease has been signed, you can usually change its terms only if the landlord and tenant agree and sign a written amendment.

Landlord Tenant-Breach
A landlord may legally terminate a lease if the tenant significantly violates the lease agreement contract terms and conditions. A lease termination for a long-term contract usually requires a 30 to 60 day written notice. Notice requirements very by state.

Landlord Tenant-Constructive Eviction
Constructive eviction is when the landlord does not go through a legal eviction of a tenant but takes actions which make the premises uninhabitable or prevents the tenant from continuing to live in the premises.

Landlord Tenant - Notices
In general, the landlord is required to give the tenant notice of a default in rent or other payments before bringing eviction proceedings. Also, a landlord typically may enter with or without notice and consent in an emergency only.

Landlord Tenant-Residential Leases
The relationship between a landlord and a tenant should be cooperative, not adversarial. Much like a shopkeeper and his customer, a landlord and his tenant want to establish a long term mutually beneficial relationship. It must be based on respect for each others property, privacy, and right to profit.

Landlord Tenant-Rules and Regulations
The relationship between a landlord and a tenant should be cooperative, not adversarial. Much like a shopkeeper and his customer, a landlord and his tenant want to establish a long term mutually beneficial relationship. It must be based on respect for each others property, privacy, and right to profit.

Late payment
Any payment that the Tenant fails to pay to the Landlord within the specified pay period. To download our Late Fee Notice, click here.

Lease Fee
Lease fee is defined as an ownership interest held by a landlord with the right of use and occupancy conveyed by lease to others; usually consists of the right to receive rent and the right to repossession at the termination of lease.

Lease Renewal
A landlord generally may refuse to not renew a lease without providing a reason. Except for rent regulated apartments, a tenant may only renew the lease with the consent of the landlord.

Lease-Purchase
Lease-purchase an agreement to buy a particular piece of property within a certain time-frame, usually at a price determined beforehand. In some cases, the process for determining the future price is agreed to between the buyer and seller and will be implemented at some future date.

Leave of Absence
A leave of absence is an officially excused period of time off duty from work or duty. Definitions of what constitutes a leave of absence vary by employer, such as how many days off constitute a leave of absence. Employers also determine whether or not a leave of absence will be compensated for and what reasons justify such a leave period.

Lead-Based Paint
Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not taken care of properly. Lead exposure is especially harmful to young children and pregnant women.

Lease
An agreement in which one party gains a long-term rental agreement, and the other party receives a form of secured long-term debt. Click to view our Rental/ Lease Agreement.

Lessee
The lessee is also known as the tenant.

Lien
The legal claim of one person upon the property of another person to secure the payment of a debt or the satisfaction of an obligation.

Living Will
A Living Will is a document that allows a person to explain in writing which medical treatment he or she does or does not want during a terminal illness. A terminal illness is a fatal illness that leads ultimately to death. A Living Will takes effect only when the patient is incapacitated and can no longer express his or her wishes.

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