Term
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Definition
| the act of transferring a portion of the leasehold estate to a third party |
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Definition
| a lease for a property used for commercial purposes under which the rental payments are based on some percentage of sales made on the premises |
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Definition
| a lease that stipulates that the rent will be adjusted periodically as the value of the bulding changes as determined by an appraisal |
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Definition
| a lease contract that stipulates scheduled rent increases over the period of the lease |
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Definition
| the person who recieves a leasehold interest in a property from the lessor |
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Definition
| the person who gives a leasehold interest in a property to a lessee |
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Definition
| capable of being rescinded as a contract entered into by a minor or by a person who has been declared insane |
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Term
| tenancy for period to period |
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Definition
| a leasehold estate that continues to automatically renew each period unless terminated by either party |
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Term
| tenancy for a stated period |
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Definition
| a leasehold estate that has definite starting and ending dates |
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Definition
| an informal leasehold estate of interminable lenght that may last as long as the parties agree |
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Definition
| a long term lease for vacant land |
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Definition
| a lease that stipulates that the lesee will pay operating expences,insiramce, and propertu taxes fpr the property during the lease period |
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Term
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Definition
| a clasue on a lease that states that if no notice of renewal is given properly, normally one to two monthsprior the expiration of the lease, the lease terminates at the end of the lease period |
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Term
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Definition
| a clasue in a lease contract that automatically renews the lease in the event neither party desires to terminate the agreement |
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Term
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Definition
| a limit on the amount of operating costs to be borne by the landlord in commercial lease agreement |
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Term
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Definition
| a lease that stipulates that the lessee will pay opertating expenses for a property during the lease period |
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