term of years (term for years)

An interest in land that subsists for or by reference to some specified period of time. It includes interests subsisting for less than a year (e.g. a lease for six months) and periodic tenancies (e.g. a weekly, monthly, or yearly tenancy determinable by notice to quit). The commencement date and maximum duration of the term must be identifiable before the lease takes effect. See also *term of years absolute.