Notice of termination: перевір свою фінансову англійську

1. TASK: Insert the appropriate word in the text below:

capacity - effective date - following - incurring - intends

- nearing - notice - required - terminate - typically 

Notice of termination 

Either the landlord or the tenant may terminate a periodic tenancy when the period or term is _________ completion, by giving _________ to the other party as required by statute or case law in the jurisdiction. Neither landlord nor tenant may _________ a periodic tenancy before the period has ended, without _________ an obligation to pay for the months remaining on the lease. Either party must give notice if it _________ to terminate a tenancy from year to year, and the amount of notice is either specified by the lease or by state statute.

 Notice is usually, but not always, at least one month, especially for the year-to-year periodic tenancy. Durations of less than a year must typically receive notice equal to the period of the tenancy - for example, the landlord must give a month's notice to terminate a tenancy from month to month. However, many jurisdictions have increased these _________ notice periods, and some have reduced the _________ of a landlord to use them drastically. 

The notice must also state the _________ of termination, which, in some jurisdictions, must be on the last day of the payment period. In other words, if a month-to-month tenancy began on the 15th of the month, in a jurisdiction with a last day requirement the termination could not be effective on the 20th of the _________ month, even though this would give the tenant more than the required one month's notice.

2. CHECK YOUR SPEAKING 

3. SEE CORRECT ANSWER

[ Див. правильну відповідь ] 

Notice of termination 

Either the landlord or the tenant may terminate a periodic tenancy when the period or term is nearing completion, by giving notice to the other party as required by statute or case law in the jurisdiction. Neither landlord nor tenant may terminate a periodic tenancy before the period has ended, without incurring an obligation to pay for the months remaining on the lease. Either party must give notice if it intends to terminate a tenancy from year to year, and the amount of notice is either specified by the lease or by state statute. 

Notice is usually, but not always, at least one month, especially for the year-to-year periodic tenancy. Durations of less than a year must typically receive notice equal to the period of the tenancy - for example, the landlord must give a month's notice to terminate a tenancy from month to month. However, many jurisdictions have increased these required notice periods, and some have reduced the capacity of a landlord to use them drastically.

The notice must also state the effective date of termination, which, in some jurisdictions, must be on the last day of the payment period. In other words, if a month-to-month tenancy began on the 15th of the month, in a jurisdiction with a last day requirement the termination could not be effective on the 20th of the following month, even though this would give the tenant more than the required one month's notice.

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