Tangible Personal PropertyTangible personal means all the prpoerty that inside the building. It also includes Tangible personal property is the opposite of real property is what you can’t move. Possessory interest is when a person is to occupy and/or exercise control over a particular plot of land. A possessory interest is “distinguished from an interest in the title to property, which may not include the right to immediately occupy the property”. Example: a long-term lease. (The People’s Law Dictionary 2005)
Describe and give examples of the following: The following terms are the same; Tenancy for a term of years is a lease for a fixed period of time. Example a lease for two years, there is no need for notice of termination. Fixed term lease – A lease that expires without notice.
What are the Major Features of a Fixed Term Tenancy/Tenancy for Years? They both have a starting date and an ending date.A tenancy is usually 1 to 2 years and a fixed for shorter periods. They both are terminated without notice.What Happens When the Fixed Term Tenancy/Tenancy for Years Expires? You may choose to renew the contract or move out.What is a periodic tenancy?“A tenant that doesn’t sign a lease is a month to month tenant. This is what is called a periodic tenancy.”
Tenancy at will – Definition Lease that has no expiration date, but that can be cancelled at anytime time by either landlord or tenant.
Compare and contrast joint tenancy and tenancy in common.Joint tenancy is the ownership by two or more people of a property. Each one has equal rights to the property. All decisions must be made collectively.
Part II:My home state: LouisianaIdentify which state is your home state and answer the following questions: 1. Which state provides greater tenant rights and protections? Louisiana – During the lease, the renter is to repair any damages that were caused by renter. CC Art. 2693. (National Conference of State Legislatures 2011) “A tenant in a residential rental agreement in Louisiana is given certain rights.
The rights come in several categories, protecting a tenant from landlord harassment, providing legal recourse for various landlord-tenant disputes, and ensuring that a tenant has a safe home to live in. These rights are outlined in Louisiana’s landlord and tenant laws in the state’s civil code.”(G. Landry 2002) http://www.la-law.org/Downloads/Landlord-Tenant%20Law%20Outline.pdf All laws both in Texas and Louisiana are basically the same. There are no real differences in the law works. The differences are very small. Texas – Tenant Rights (G. Abbott March 23 2011)
In Texas for landlords and tenants governed by Chapter 92 of the Property Code and by the courts. But over all the best relationship should be between the tenant and the landlord. It is the same to be sure you read the entire lease, don’t accept an oral lease, always in writing. If you want to change a part of the lease let the landlord know. Both states state the tenants are to have peace and quiet and that other tenants in the building should not disturb you. Both state that repairs should be done in an appropriate amount of time. And if for any reason the landlord can’t get it fixed let him know you will fix it and then you will give him the receipt for the charges.
References:The People’s Law Dictionary (2005) Retrieved September 20 2011 fromhttp://legal-dictionary.thefreedictionary.com/possessory+interest http://www.investopedia.com/terms/t/tangible-personal-property.asp#ixzz1YUnENF17