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
Cost excluded from the minimum lease payments to be made by the lessee in a capital lease. The lessee reimburses the lessor for the lessor's expense payments. ...
Out-of-state or out of jurisdiction administrator appointed to probate a decedents property when there is no executer or executrix. ...
Deed used to transfer property rights to a governmental authority. ...
Gift of real property as stipulated in a will. ...
An individual or business that buys someone else's equity in property but may not assume any responsibility for a loan balance. ...
Underwriting is a term often used with financial connotation. It is a process that helps individuals or institutions to determine if it’s worth taking a financial risk in a particular ...
Increase in the outstanding loan balance arising when the mortgage payment does not fully meet the interest charge on the loan. This occurs under indexed loans or when the indexed rate ...
Haven’t you ever paid a bill a few days after the due date? It happened to all of us, not necessarily because we didn’t have the money, but because we simply forgot about it. A ...
Removal of land by the action of water. See also erosion. ...
Have a question or comment?
We're here to help.