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
Process of simultaneously appraising several pieces of property. Normally, occurs when a local government conducts a reassessment. ...
Horizontal supports for the ceiling of a structure. ...
A group of investment bankers underwriting and distributing a new or outstanding issue of securities of a real estate business. a professionally managed limited partnership investing in ...
Organization that manages the relocation of the employees of client companies from one area of the country to another. A relocation service will manage home sales and purchases in another ...
Underground pit or tank used to store sewage. ...
One who has died with a valid will in effect. ...
Fee simple estate is a term used to describe ownership or freehold of an estate and the type of ownership of an estate. The possessory interest, also referred to as fee (a word derived from ...
A written, legally enforceable document used to transfer title to real estate, See also quit claim deed; warranty deed. ...
Revocation comes from the verb "to revoke", which means to take back the validity of something. The definition of revocation is detrimental to contract law. It gives the person making the ...
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