Which of the following is a distinguishing characteristic of a tenancy that runs from fiscal year to fiscal year?
A) Either party may use the land as security for a loan for the duration of a lease term.
B) The tenancy automatically renews unless a notice of termination is given prior to expiry.
C) Either party will be bound by mutual obligations to negotiate a renewal or extension.
D) The tenancy terminates unless renegotiated on each fiscal year-end date in the tenancy lease.

Question

Quizplus · Accepted Answer

A tenancy that runs from fiscal year to fiscal year typically automatically renews unless a notice of termination is given prior to the expiry of the lease term.

Which of the Following Is a Distinguishing Characteristic of a Tenancy