The Property System

Assume: (1) You have no memory problems such that you very clearly remember the answers that your lawyer provided to each of your questions; and (2) You retained a competent lawyer who correctly answers your questions. With these givens, how did your lawyer answer these following questions –I recall vaguely in my Business Law class that I once took at Ohlone College that leasehold interests may be created in real property. But please confirm with me. What type of tenancy is being created by this contract? And how is this type of tenancy different than the other types of tenancies that can be created?Assuming the grand opening for my store occurs by Halloween, what would be the Expiration Date for this Lease Term?I recall vaguely in my Business Law class that sometimes lease interests can be transferred and conveyed to a third party. Does this contract allow me do that?  I recall vaguely in my Business Law class something about fee simple this or fee simple that—ownership interests that people have in property. What type of ownership interest does OHLONE LANDLORD PROPERTIES have? Complete? Or is it defeasible? I’m not a subtenant, right?I recall vaguely in my Business Law class that landlords also owe different duties to different people, but I do recall distinctly that a customer would be an invitee. But does that mean that OHLONE LANDLORD PROPERTIES is always liable if one of my customers gets hurt in my store? For instance, say one of my employees, an Ohlone student, mops the floor but forgets to put one of those yellow “caution” signs notifying customers that the floor is wet and because of the super wet floor one of my customers slips and falls and injures herself and decides to sue me under the premises liability theory. The landlord would be liable too, right? (HINT: Skim the lease agreement to find the relevant contract provision.)

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