Final answer:
An estate for years is a fixed-term lease that automatically ends at a specified date without notice, whereas an estate from year to year, or a periodic tenancy, continues for successive periods until notice is given by either party to terminate the tenancy. The correct answer is option B) estate from year to year must be in writing.
Step-by-step explanation:
The principal difference between an estate for years and an estate from year to year is that an estate for years has a definite beginning and ending date, while an estate from year to year, also known as a periodic tenancy, continues for successive periods until either the landlord or tenant gives notice to terminate. An estate for years is a fixed-term lease agreement where the duration is known upfront—this can range anywhere from days to years. Once the specified time is up, the estate automatically terminates without the need for notice.
On the other hand, an estate from year to year does not have a set expiration date and generally arises from an understanding or agreement that the tenancy is renewable indefinitely, often on an annual basis. It requires proper notice, typically in conformity with statutory requirements, to be given by one party to the other to terminate the tenancy. The notice period for termination varies by jurisdiction but often corresponds to the length of the rental payment period.
In summary, an estate for years is characterized by its fixed term, and no notice is necessary to end it, whereas an estate from year to year requires notice for termination, as it may potentially continue indefinitely. Understanding the nature of these estates is critical for anyone involved in real estate transactions or management.