PSI Oklahoma Real Estate Practice Test

What type of leasehold estate did the Air Force Officer enter when renting a house for six months?

1. Estate for years

2. Periodic tenancy

3. Tenancy at sufferance

4. Month-to-month lease

The correct answer is: Estate for years

In this scenario, the Air Force Officer entered into a leasehold estate known as an estate for years. This type of leasehold estate is characterized by having a specific starting and ending date, as opposed to being indefinite. Since the lease is fixed for a six-month duration, it meets the definition of an estate for years, which is often created for a definite period, whether that be days, months, or years. A periodic tenancy, on the other hand, would imply that the lease continues indefinitely until either party provides notice to terminate, typically on a monthly or yearly basis. A tenancy at sufferance occurs when a tenant remains in possession of the property after the lease has expired without the landlord's consent, which is not the case here. Regarding a month-to-month lease, this also suggests a recurring periodic tenancy instead of the fixed duration that defines the estate for years. Thus, the correct identification of the leasehold estate in this case is indeed an estate for years.