Search results
Results from the WOW.Com Content Network
In real estate law, sublease (or, less formally, sublet) is the name given to an arrangement in which the lessee (e.g. tenant) in a lease assigns the lease to a third party, thereby making the old lessee the sublessor, and the new lessee the sublessee, or subtenant.
A sublease refers only to a transfer of possession for less than the original tenant's term. The difference is the question of what individual's possession abuts the landlord's reversion . It's important to note that short term rentals, such as Air Bnb and Vrbo are not subleases or assignments, but rather they grant a license for people to take ...
The tenancy agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels. In addition to the basics of a rental (who, what, when, how much), a real estate rental may go into much more detail on these and other issues.
A commercial leasing agreement is also called a commercial property, commercial real estate, business, industrial, and office space lease. [1] The individual in ownership of the property to be rented is called the lessor or landlord. [2] The lessee or tenant uses and rents the property owned by the lessor and provides them with monetary ...
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. [1] Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property .
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
As the real estate market continues to evolve, ... 5 Home-Buying Trends That Will Define 2025, According to Real Estate Experts. Kristine Gill. December 23, 2024 at 4:42 AM. Annie Schlechter.
Privity of estate is a mutual or successive legal relationship to the same right in real property, such as the relationship between a landlord and tenant. [1] Thus, privity of estate refers to the legal relationship that two parties bear when their estates constitute one estate in law.