Texas Real Estate State Practice Exam

What term is used when a tenant pays rent and it is accepted after the lease has expired?

1. Holdover Tenancy

2. Periodic Tenancy

3. Statutory Estate

4. Taxation

The correct answer is: Holdover Tenancy

When a tenant continues to occupy a rental property after their lease has expired and their rent is accepted, it is known as a holdover tenancy. This occurs when the tenant and landlord do not sign a new lease agreement but the landlord still accepts the tenant's rent payments, thereby granting the tenant the right to remain in the property. The other options, periodic tenancy, statutory estate, and taxation, do not accurately describe this scenario. Periodic tenancy refers to a lease with no specified end date where rent is paid on a regular basis, while a statutory estate refers to a type of interest in land. Taxation, on the other hand, involves the payment of taxes, which is not related to a tenant paying rent after the lease has expired.