Term of the Lease. (1) An agreement is required for premises that are leased for a period exceeding one year. A lease without an agreement shall be deemed to last for an indefinite period. The term of a lease agreement shall not exceed 20 years. A term that exceeds 20 years shall be reduced to 20 years. (2) If no definite period is set in a residential lease agreement, the parties may terminate the agreement at any time. However, the customs in favor of the Tenant shall prevail. Therefore, the parties may explicitly agree on the term of the lease when entering into an agreement, so as to protect their rights and interests.
Appears in 15 contracts
Samples: Residential Lease Agreement, Residential Lease Agreement, Residential Lease Agreement
