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A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
In terms of section 77(1), save where provision to the contrary is made in any law, any lease or sublease of land or of any rights to minerals in land, and any cession of such a lease or sublease intended or required to be registered in the Deeds Registry, shall be executed by the lessor and the lessee, or by the lessee and the sub-lessee, or ...
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.
In the oil and gas industry, a farmout agreement is an agreement entered into by the owner of one or more mineral leases, called the "farmor", and another company who wishes to obtain a percentage of ownership of that lease or leases in exchange for providing services, called the "farmee." The typical service described in farmout agreements is ...
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Indefeasible right of use (IRU) is a type of telecommunications lease permanent contractual agreement that cannot be undone, established between the owners of a communications system and a customer of that system. The word "indefeasible" means "not capable of being annulled, or voided, or undone".
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