Master Lease
- Major lease in a structure that controls subleases. An example is a landlord and attorney entering into a main lease for the third floor offices of building. This lease takes precedence over a sublease between the attorney and an accountant for one of the offices.
- A controlling property lease. Subleases are controlled by the master lease in the sense they cannot extend beyond the terms of the master lease. For example, John grants Jack a 10-year master lease on a commercial office building, Jack can sublease the offices for terms not to exceed the 10-year master lease.
Popular Real Estate Terms
Assets owned by an individual as part of his or her estate except for land and everything attached to the land. Personal property may be either tangible, having physical substance such as ...
Retail businesses next to each other with common walls on each side and the same roof. ...
Number of range grassland acres needed to support one animal unit for a specified period of time or grazing season. ...
Charges incurred in making a sale of real estate such as real estate commissions and attorney fees. ...
Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay ...
If you are a real estate investor and you come across this term, you might wind up wondering … What is the operating expense ratio? The operating expense ratio (OER) is a way for ...
Enhancement of a property's value even though the improvement is not on it. Lighting in the street would be an example. ...
Uniform charge for transportation and delivery of household items to a homeowner within a particular locality. ...
Falsify financial records and statements to misrepresent the financial position and operating results of the business. ...
Have a question or comment?
We're here to help.