Asked by Elisa Davis on May 12, 2024
Verified
Ed signs a ten-year lease with a survival clause. If Ed is evicted after two years, he will have to pay:
A) rent for the remaining 8 years.
B) damages equal to the difference between the rent specified in the lease and the rent the landlord is able to obtain from reletting the premises.
C) until eviction.
D) until he assigns the lease.
Survival Clause
A contract provision that remains effective after the termination of the contract, covering aspects such as confidentiality and dispute resolution.
Evicted
The legal process by which a tenant is expelled from rented property, usually due to violation of a lease agreement.
Rent
Rent is a payment made by a tenant to a landlord in exchange for the use of a property, such as a house, apartment, or commercial space, for a specified time.
- Comprehend the essence of leasehold interests along with the legal securities provided to lessors and lessees.
- Assess the legal strategies available for landlords and tenants in managing property and lease issues.
Verified Answer
DS
Donna ShepherdMay 17, 2024
Final Answer :
B
Explanation :
A survival clause in a lease means that certain obligations survive the termination of the lease. If Ed is evicted, he would typically be responsible for damages equal to the difference between the rent specified in the lease and the rent the landlord is able to obtain from reletting the premises. This is to compensate the landlord for the loss of income due to the early termination of the lease, while also considering any income the landlord is able to generate from reletting the property.
Learning Objectives
- Comprehend the essence of leasehold interests along with the legal securities provided to lessors and lessees.
- Assess the legal strategies available for landlords and tenants in managing property and lease issues.