Eviction

AAA

DEFINITION of 'Eviction'

A landlord's legal removal of a tenant from his rental property. Eviction may occur when rent has not been paid, when the terms of the rental agreement have been breached or in certain other situations, such as the conversion of the rental unit to a condo.

INVESTOPEDIA EXPLAINS 'Eviction'

In the United States, the eviction process is a matter of state law, so it varies from state to state. Tenants receiving eviction notices will often have a specified number of days to correct the problem that has led to the threat of eviction. For example, the tenant may have three days to pay rent in full before he must vacate the unit. If the tenant does not voluntary comply with the eviction notice, the issue must be resolved in court.

RELATED TERMS
  1. Retaliatory Eviction

    When a landlord takes revenge against a tenant's actions by evicting, ...
  2. Month-To-Month Tenancy

    A type of rental agreement. Month-to-month tenancy is based upon ...
  3. Tenement

    A housing structure that has several houses or units put together, ...
  4. Residential Rental Property

    A type of property that derives more than 80% of its revenue ...
  5. Landlord

    A real estate owner who rents or leases land or a building to ...
  6. Security Deposit

    A monetary deposit given to a lender, seller or landlord as proof ...
Related Articles
  1. Personal Finance

    How A Bad Roommate Can Ruin Your Credit Score

    Living with someone can cut your expenses, but in addition to not doing the dishes, your roommate may do serious damage to your credit.
  2. Budgeting

    Take Advantage Of A Housing Crisis - Rent!

    When a housing crisis strikes, the big winners are often the renters.
  3. Personal Finance

    To Rent Or Buy? There's More To It Than Money

    Your lifestyle, level of commitment and the trade-offs need to be carefully weighed.
  4. Personal Finance

    6 Tips For Renting An Apartment

    Find out what you can do to find a fabulous apartment to fit your budget.
  5. Home & Auto

    Becoming A Landlord: More Trouble Than It's Worth?

    On the surface, being a landlord seems likes like a surefire bet, but it's usually more headache than it's worth.
  6. Retirement

    Are You Ready to Rent?

    If you think it's time to test your wings and leave your parents' nest, read on.
  7. Options & Futures

    Electrifying Apartment Bills: How To Reduce Them

    As a renter, there are still factors that can influence your heating and air conditioning bill.
  8. Insurance

    How to Use a Waiver of Subrogation

    A waiver of subrogation means that a party to a contract waives the right to allow someone (usually an insurance company) to sue the other party to the contract in case of a loss.
  9. Home & Auto

    The Income Property: Your Late-In-Life Retirement Plan

    You're nearing retirement age and you don't have the nest egg you need. Here's how an income property can help you make up the shortfall.
  10. Home & Auto

    5 Rental Red Flags

    Know what to look for before entering into a rental agreement.

You May Also Like

Hot Definitions
  1. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  2. Asset Class

    A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat ...
  4. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  5. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  6. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
Trading Center