North Dakota Code 47-16-05 – Lease of realty presumed for one year
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A lease of real property, other than lodgings, in places where there is no usage on the subject, is presumed to be for one year from its commencement, unless otherwise expressed in the lease.
Terms Used In North Dakota Code 47-16-05
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- year: means twelve consecutive months. See North Dakota Code 1-01-33