Tenancy Legal Meaning and Definition

Here is a simplified definition of the legal term Tenancy.

Tenancy (noun)

A legal term that describes the agreement or relationship between a tenant and a landlord where the tenant has the right to use and occupy a property for a specified period of time. This period can be for a short term (months) or long term (years), and can be established through various means such as a lease, rent, will or purchase. The tenant does not own the property but has the right to live or work there under agreed-upon terms and conditions.