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Tenancy at WillA tenancy at will is an interest in realproperty that continues for an indefiniteperiod of time. No written agreement isrequired to create this tenancy. It is terminatedwhen either the landlord or the tenantgives the notice required by state law, whichis usually 30 days.TENANCY AT WILLA tenancy at will continuesfor an indefinite period oftime. How is a tenancy atwill terminated?Tenancy at SufferanceA tenancy at sufferance arises when atenant doesn’t leave the premises after his orher tenancy has expired. This situation oftenoccurs when a tenancy for years expires orwhen a tenancy at will has been properlyterminated by the landlord but the tenantremains in possession. A tenant at sufferance,also called a holdover tenant, is awrongdoer who no longer has legal interestin the property. Generally, a tenant at sufferanceis not entitled to notice to vacate but isliable to pay rent for the period of occupancy.If a landlord accepts rent from a tenant after a tenancy has expired,a periodic tenancy or a tenancy at will may come about instead of atenancy at sufferance.The Lease AgreementA written agreement between a lessor and a lessee is called alease . The lease creates the landlord-tenant relationship. It provides thetenant with exclusive possession and control of the real property of thelandlord. The general rules of contract law apply to this form of agreement.Figure 33.2 shows a sample lease.714 Unit 7: Planning for the FutureTerms in a LeaseThe terms of a lease, known as covenants, set forth the rights andduties of the landlord and the tenant. The basic right that the tenantwants is possession and a continued occupancy, free from interferenceor annoyances. The landlord wants rent and possession of the propertyin good condition at the term’s end.Security Deposit In addition to the first month’s rent, landlords oftenrequire you to pay a security deposit and the last month’s rent at thebeginning of a tenancy. These requirements are intended to secure thepayment of rent or repairs for damages to the property. The security