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Florida Real Estate Exam

Category - Florida

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A lease for a three-year term which called for rent to be paid quarterly expired. If at the end of the term, the landlord were to accept another payment of rent, the lease would be:

Extended another three years
A periodic tenancy
Extended for a term not to exceed one year
Cancelled in any event

Explanation

Answer: B. The original three year contract is no longer in effect and when the broker accepts additional rent, it creates a periodic tenancy.

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