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A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
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 Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
A 99-year lease is, under historic English law, since widely received abroad, the longest permissible term of a lease of real property. It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom .
In 1920, New York adopted the Emergency Rent Laws, which effectively charged the courts of New York State with their administration. [ 23 ] [ 24 ] [ 25 ] The rent laws were the result of a series of widespread rent strikes in New York City from 1918 to 1920 that had been sparked by a World War 1 housing shortage, and the subsequent land ...
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