Texas Real Estate State Practice Exam

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What type of lease has a specific starting and ending date?

Periodic Tenancy
Estate for years
Holdover Tenancy
Estate at will

The correct answer is: Estate for years

A lease that has a specific starting and ending date is known as an estate for years. This type of lease agreement establishes a fixed duration, providing both the landlord and the tenant with clear terms regarding the duration of the rental arrangement. It does not automatically renew after the end date, making it straightforward in terms of the lease's timeframe. Periodic tenancy, on the other hand, continues for successive periods (e.g., month-to-month), and lacks a defined end date unless terminated by either party. Holdover tenancy refers to a situation where a tenant remains in the property after the lease has expired, while estate at will is more flexible and can be terminated by either party at any time, without a specified end date. Therefore, the key characteristic of a lease with a defined duration is accurately represented by the estate for years.