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What is a lease?

Lease is the contract between the landlord and tenant in which the landlord conveys interest in the land to the tenant for a set period of time. Leases usually contain covenants (promises) that impose contractual obligations on both the landlords and the tenants. For example, the lease may obligate the landlord to provide tenant the right to quiet enjoyment of the premises and obligate the tenant to pay a certain amount of rent every month.

If there is no lease involved, then the landlord and the tenant have a tenancy at will. A tenancy at will may be terminated at the will of either the landlord or the tenant. Under Common Law, a notice was not required to terminate a tenancy at will.

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