Maria and Patrick allowed their son Mike to move into their vacation home and pay rent of

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Question:

Maria and Patrick allowed their son Mike to move into their vacation home and pay rent of $500 per month. Since Mike is family, Patrick and Maria do not have him sign a written lease, but they verbally agree that the term will be for one year. The tenancy created between Maria, Patrick, and Mike concerning the vacation home is referred to as an

A. percentage lease

B. tenancy from period to period

C. net lease

D. gross lease