Step-up Lease
Definition of "Step-up lease"
Lease that incorporates increases in agreed-on payments over the term of the lease contract. For example, a particular step-up lease may require that the lessee pay a 10% increase each year over the 5-year term of the lease.
Popular Real Estate Terms
A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing ...
Credential awarded by the International Association of Assessing Officers to appraisers of real property working for a government body. ...
Increasing tax rates with increasing levels of taxable income. ...
Linkage of property ownership that connects the present owner to the original source of title. ...
Business that transforms an underdeveloped tract of land into plots ready for construction. ...
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license. ...
Statement filed with a governmental authority declaring property a homestead for the purposes of securing a homestead exemption. The declaration of homestead has no effect on the property ...
Amount still unpaid at a particular date on a loan or other financing agreement. ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
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