Operating Lease
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee recognizes rent expense. A corporate lessee should disclose the future minimum lease payments in total and for each of the five succeeding rentals, contingent rentals, sublease rentals, and classes (types) of property leased. The lessor recognizes rental revenue.
Popular Real Estate Terms
The seller disclosure is a statement made in good faith regarding the condition of the home he/she is trying to sell. There is a seller disclosure form – called “Form 17” ...
Determination made concerning the motivation of a testator in making devises of the will. A will can be contested if it can be proved the testator did not have rational motives when ...
A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...
Agreement by a lender to loan money to suitable borrowers within a given time period but without identifying those borrowers. ...
Thin layer or slate of baked clay, linoleum, or some other material that is used for covering floors, roofs, or as an ornament in a building. ...
Where property is sold to the highest bidder. ...
Value of a company's or person's name and reputation, As a result, the business will have a competitive edge, and generate better-than-typical future earnings. ...
Written agreement between two or more parties to extend the terms of a document. ...
The basic home inspection definition is well-known for everyone, right?However, when it comes to real estate, the term “inspection” can serve a bunch of purposes – but the ...
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