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It is important to note the steps to be taken by the registrar upon termination of a registered lease or sublease. Registration has a bearing on cessions of such leases or subleases. In terms of section 80 of the DRA, no cession of a lease or sublease shall be registered in any deeds registry unless the lease or sublease has been registered ...
For example, suppose a tenant leases land for six months for ¤1,000 per month, and that two months into the lease, the government condemns 25% of the land. The tenant will then be entitled to take a portion of the condemnation award equal to 25% of the rent due for the remaining four months of the lease—¤1,000, derived from ¤250 per month ...
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.
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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 ...
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.).
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