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CHRISTIAN MOJICA
on Nov 28, 2024

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Kristen signs a one-year lease for a mobile home owned by Lamont. If Kristen dies during the lease term, the lease interest

A) returns to Lamont.
B) automatically expires.
C) automatically renews.
D) passes to Kristen's heirs as personal property.

Personal Property

Movable items owned by an individual or corporation, as opposed to real property like land or buildings.

Lease Interest

Lease interest typically refers to the financial interest or cost associated with leasing a property or equipment, which includes the rate at which interest is charged on the lease balance.

  • Recognize the lawful repercussions of transferring property interests and entering into lease agreements.
  • Differentiate between multiple tenancy contracts and grasp their respective legal standings.
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CM
Catherine MelchorNov 30, 2024
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