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Tenancy agreement

What is a tenancy agreement?

The ABGB groups tenancy and lease agreements under the term ‘tenancy contract’. Under insolvency law, there are special provisions governing termination for both. A common characteristic of tenancy and lease agreements is the transfer of use of an item in return for payment for a specified period. A tenancy is the transfer of an item for a fee for the sole purpose of use (e.g. the transfer of a flat, a television set or a car). A leasehold, on the other hand, is the transfer of an item for a fee for the purposes of use and the enjoyment of its fruits (e.g. the transfer of a business, a farm or a doctor’s practice). 
 

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