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
Certificate of an officer stating that a sworn statement is genuine stating when, where and before whom the statement was sworn. A jurat commonly appears at the bottom of an affidavit. ...
Primary horizontal support for a structure such as a house. It may be a large piece of wood, stone, iron, or other material that lies across the walls, and serves as support of the ...
location where someone stays on a permanent basis. An example is a home to a family. ...
House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked ...
The definition of adjoining properties describes two or more real estate properties, lots, or parcels that shared a boundary. A property that shares a common border with another is ...
A horizontal beam connecting together two rafters supporting the roof. The collar beam is located at the point substantially higher than the wall plate connecting the rafters. The high ...
Also called trust deed. A document that conveys title to a neutral third party during the period in which the mortgage loan is outstanding as collateral for a debt. ...
Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...
Services provide to a parcel of land public utility companies, such as gas, water, electricity. ...
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