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The annual cost of its 87-year lease for the 27-acre site [94] from the Vinnie A. Murphy Trust—which extends through 2049—was $344,704 in 2014. McEntee told the Monterey County Weekly that the cost of the lease is highly discounted, and that the terms of the lease allow the trust to re-assess the lease terms in 2017. This could potentially ...
The most common form of real property lease is a residential rental agreement between landlord and tenant. [7] As the relationship between the tenant and the landlord is called a tenancy, this term generally is also used for informal and shorter leases. The right to possession by the tenant is sometimes called a leasehold interest.
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[208] [210] Due to the decline of the newsreel theater industry, the Guild was shuttered in late 1999 after Tishman Speyer decided not to renew its lease. [ 211 ] Tishman Speyer , led by David Rockefeller's close friend Jerry Speyer and the Lester Crown family of Chicago, bought the original 14 buildings and land in 2000 for $1.85 billion.