a) Illustrate three ways in which property may be acquired
b) Give details of four types of tenancies
ANSWER
a) Property may be acquired in various ways some of which include:
- Asserting ownership over things not previously owned by anyone else.
- Adverse possession i.e. asserting ownership on abandoned land.
- Purchase from a previous owner.
- Inheritance.
b) Types of tenancies
- Fixed period tenancy: this is a tenancy created for a fixed term. It has a specific commencement and termination date. It determines on expiration of the duration.
- Periodic tenancy: this is a tenancy which continues indefinitely from a periods of one year or less and may be express or implied.
- Tenancy at will: this is a tenancy whereby the tenant occupies the premises on terms that either party may determine the relationship at any time.
- Tenancy at sufferance: this is a tenancy which arises whenever a fixed period tenant holds over without the land lords consent or dissent.
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