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A month-to-month lease is a form of periodic tenancy that renews automatically at the end of each period until terminated by either party with proper notice. Typically, a notice period of at least 30 days is required for termination to be valid. It is important for both tenants and landlords to consult local laws, as regulations regarding the notice period and termination may vary by state and locality. Both parties have the right to terminate the lease agreement by providing the required notice.