Lease Agreement
Definition of "Lease agreement"
A contract between a lessor and a lessee to use property for a specified time period at an agreed to rental charge.
- Gross lease: A total amount of rental dollars from which the landlord must pay all taxes, utilities, insurance, and other costs.
- Month-to month lease: there is no formal lease agreement between the landlord and the tenant. Typically, the landlord must provide a one-month notice before canceling the lease.
- Net lease: A lease in which the tenant must pay all the related property costs including insurances, taxes, utilities, and others.
Popular Real Estate Terms
The American Real Estate and Urban Economics Association (AREUEA) is a non-profit association founded in 1964, during the Allied Social Science Association located in Chicago. Important to ...
A delay in making a principal payment on a mortgage that a bank allows a debtor for current financial difficulties. The extension of a loan at maturity at the 'going' market interest ...
What a piece of property could be sold for on the market. ...
Part of the premiums and interest that have not been returned to the annuitant before his death. ...
See common law. ...
Equals the tax divided by taxable income. Foe example, if the tax is $30,000 on taxable income of $120,000 the effective tax rate if the business is 25% ($30,000/$120,000) ...
Privilege granted by a franchiser to a franchisee permitting the latter to operate using the franchiser's name. The franchisee must pay a franchise fee for such right. In addition, the ...
Right to substantive real or personal property having tangible body and form. For example, a corporeal right to a house, property, furniture, or fixtures. ...
Window having several overlapping glass louvers that are installed in a common window frame and pivot synchronously as a window lever or crank operating device, installed at the bottom of ...
Have a question or comment?
We're here to help.