Oregon 30-Hour Real Estate Law Practice Test

What type of leasehold estate does a month-to-month agreement represent?

1. Fixed estate

2. Periodic estate

3. Leasehold estate

4. Joint estate

The correct answer is: Periodic estate

A month-to-month agreement is classified as a periodic estate. This type of leasehold estate is characterized by a tenancy that automatically renews after each period, which in this case is one month. The tenant and landlord each have the flexibility to terminate the agreement with the appropriate notice, typically one month in advance. In contrast, a fixed estate refers to a lease with a specific start and end date, without any automatic renewal. A leasehold estate is a broader term that encompasses various types of leases, including periodic estates, but does not specify a type on its own. A joint estate typically involves property held by multiple owners rather than a rental agreement, which is not relevant to this question. Therefore, the classification of a month-to-month agreement as a periodic estate aptly reflects its nature of ongoing renewals at defined intervals.