Tenancy

Definition: A form of holding or possessing an interest in property. The term can describe a rental arrangement or, in expressions such as joint tenancy, a form of ownership.

Example

A lease creates a tenant's right to possession for the agreed period.

Keep the distinction clear

Do not assume every use of tenancy means renting. Tenancy in common and joint tenancy describe co-ownership, while a leasehold tenancy concerns possession under a rental arrangement.

Related terms

Leasehold Estate · Joint Tenancy · Tenant in Common

Keep studying

Freehold vs. Leasehold Estates: How to Tell Them Apart

References: California DRE: real estate glossary

Pronunciation (US): TEN-un-see (capitals show stress)

Pronunciation reference: Merriam-Webster