What is a "tenant at will" in real estate?

A "tenant at will" refers to an individual who occupies a property with the landlord's consent but does not have a formal lease agreement. This arrangement allows the tenant to stay in the property without a set duration for their tenancy, meaning it can be terminated by either party at any time with appropriate notice. The key aspect of this arrangement is that the tenant's presence is authorized by the landlord, even though it is not defined by a traditional lease structure.

In this case, the option correctly identifies the essential characteristics of a tenant at will. Such tenancies are often used in situations where flexibility is desired by both landlord and tenant, allowing for easy termination of the rental agreement.

Other options do not accurately reflect the concept of a tenant at will. A formal lease agreement would characterize a tenant under a different classification. Occupying a property without the landlord's consent generally describes a form of trespassing rather than a tenancy. Finally, the right to sublease relates to the terms outlined in a lease agreement and does not pertain to the nature of a tenant's relationship when there is no formal lease in place.