term:

Tenancy

tenancy n

pl: -cies
1 : the holding of or a mode of holding an estate in property:
a : a form of ownership of property
: tenure
b : the temporary possession or occupancy of property that belongs to another

holdover tenancy
: a tenancy that arises when one remains in possession of property after the expiration of the previous tenancy (as one under a lease), that may be established as a tenancy at will by the recognition of the landlord (as by accepting rent), and that may sometimes be statutorily converted to a periodic tenancy for the same or a different term than that of the original tenancy [liable for payment of rent in a holdover tenancy] called also tenancy at sufferance

joint tenancy
: a tenancy in which two or more parties hold equal and simultaneously created interests in the same property and in which title to the entire property is to remain to the survivors upon the death of one of them (as a spouse) and so on to the last survivor [a right to sever the joint tenancy] see also tenancy by the entirety in this entry compare tenancy in common in this entry

life tenancy
: the tenancy of one with a life estate
;also
: life estate at estate [created a life tenancy for her husband]

pe·ri·od·ic tenancy
[pir-ē-Ä -dik-]
: a tenancy that is carried forward by specified time periods (as months) without a lease and that may be terminated by the landlord or tenant after giving proper notice

tenancy at sufferance
: holdover tenancy in this entry

tenancy at will
: a tenancy that is terminable at the will of the landlord or tenant provided that applicable statutory requirements for notice are met

tenancy by the entirety
: a tenancy that is shared by spouses who are considered one person in law and have the rights of survivorship inherent in joint tenancy and that becomes a tenancy in common in the event of divorce [property subject to a tenancy by the entirety cannot be encumbered by one tenant acting alone "Mays v. Brighton Bank, 832 S.W.2d 347 (1992)"] called also tenancy by the entireties compare estate by the entirety at estate

tenancy for years
: a tenancy that is for a specified period of time compare tenancy at will in this entry

tenancy in common
: a tenancy in which two or more parties share ownership of property but have no right to each other's interest (as upon the death of another tenant) compare joint tenancy in this entry

tenancy in partnership
: a tenancy that binds partners to the use of partnership property only for partnership purposes and that does not permit the separate assignment by a partner of his or her right to the property
2 : the period of a tenant's occupancy or possession

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.