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
Ownership rights to the minerals or other precious resources, such as petroleum, in one's property. A property owner having the mineral rights to the property can do one of three things ...
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Latin term meaning legal capacity to act on behalf of oneself. ...
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Contractor who constructs new roofs or repair old ones. ...
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