Definition : Lease - Indeterminate term lease

Lease whose duration has not been specified by the parties and which terminates upon resiliation by one of the parties. Any lease that is not concluded for a fixed term is a lease of indefinite duration. TO KEEP IN MIND: In a decision  rendered by the Superior Court of Quebec, it was held that an agreement between a syndicate of co-owners and a co-owner, relating to the use and payment of fees associated with a parking space, should be considered an indeterminate term lease.