Ace the Maine Real Estate License Exam 2025 – Unlock Your Future in Property Power!

When a tenant moves into an apartment based on an oral agreement without a written lease, the type of leasehold created is referred to as a "tenant at will." This arrangement means that the tenant can occupy the property with the landlord's consent but without a fixed term or specific duration. The tenant's right to occupy the property can typically be terminated by either party at any time with appropriate notice, which is usually defined by state law.

This type of arrangement is flexible and does not impose a strict timeframe on the tenancy, distinguishing it from other types of rental agreements which have defined periods.

On the other hand, an estate for years indicates a lease with a specific end date, and an estate from period to period refers to a lease that automatically renews at the end of each period (like month-to-month). An estate at sufferance occurs when a tenant remains in the property without the landlord's permission after the lease has expired. None of these definitions apply in this case, as the agreement in question is informal and lacks a written contract or specified term.