what's it mean when someone's on a lease
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Lease Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments.
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Lease 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.
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What Happens if a Person Who Has No Spouse Dies Before the Term of Their Car Lease Expires? Someone else may be able to assume the lease. Early Termination. When a car lease is in only one person's name, his death can trigger early termination of the lease. If the vehicle is returned to the dealership due to his death and before the lease expires, early termination fees and other penalties would typically come due.
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Dissecting the Lease: Holdover Clauses A holdover occurs when the term of a lease expires, whether at the end of the time period agreed to by you and your landlord, or by some earlier expiration triggered by conditions set forth in the lease, and the tenant does not surrender possession, or “holds over.”.
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When a lease expires and tenant stays When a lease expires and tenant stays. It often happens that private landlords and their tenants forget the date that their lease agreement is due to expire and months can go by where there is no signed agreement in place.
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TENANT • TENANT (noun) The noun TENANT has 3 senses: 1. someone who pays rent to use land or a building or a car that is owned by someone else. 2. a holder of buildings or lands by any kind of title (as ownership or lease) 3. any occupant who dwells in a place. Familiarity information: TENANT used as a noun is uncommon.
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How to Break an Apartment Lease As with any contract, you could face a penalty if you break your lease. If your lease is for a fixed term (such as a year), as leases typically are, it means you've agreed to pay rent for the entire term. The fact that you only pay your rent month by month doesn't mean you're automatically off the hook for the remaining payments if you decide to move out early.
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- Telecommunications antenna & Equipment. A lease is a contractual agreement that (1) conveys to the lessee the right to use property legally owned by the lessor and (2) obligates the lessee to compensate the lessor for the use of the property. The lessor owns the car, unless the lessee options to buy it at the end-of-term or refinances the remaining amount.
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TENANT-LANDLORD HANDBOOK The lease is the agreement between the landlord and the tenant for renting a property. The lease can be oral (spoken) or in writing. If the tenant does not have a written lease, he/she has an oral lease.
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Why Was Georgia Founded? The famous founder of the state of Georgia was James Oglethorpe. His main goal of founding this state was to help a lot of people in England who were facing a lot of ordeals and trial because of their numerous credits from one person or company to the other.e made a great thing become a reality and this for sure made those poor people truly happy as they will now have a place to go and grow their respective families. This land was called Georgia, one famous state of the United states of America.
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Evicting People Who Are Not on the Lease From Your Apartment The court might require your landlord to get involved in evicting someone who's not on your lease, which will bring to his attention that you violated the lease by letting someone else move in.
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- Definition of LEASE for Kids. 1. : an agreement by which a person exchanges property (as a car or house) for a period of time in return for payment or services. 2.: a piece of property that is leased.efinition of LEASE for Kids. 1. : an agreement by which a person exchanges property (as a car or house) for a period of time in return for payment or services. 2.
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News & Resources Normally, when individuals think of breaking a lease, that means that a tenant has left the property prior to the expiration of the lease. For instance, if a person has a yearlong rental lease and he or she decides to leave at month eight, that individual will have broken the lease four months early.
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- A lease is an agreement between tenant and landlord for a set period of time normally 6 months to year. If the lease is in breach by tenant or landlord; either side may sue for financial costs.
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- The lease is a contract in which: 1  You agree to pay rent for a certain period of time. 2  You agree to abide by other conditions (such as using the space for a consulting business only, or not displaying outside signs unless the landlord first approves them).
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What Happens When an Apartment Lease Is Broken? When you rent an apartment, in most cases, you enter into an agreement with the property&#039;s landlord, known as an apartment lease. Breaking the lease refers to ending the arrangement before its term expires.You can break the lease.efore you sign an apartment lease, you should be clear of its term and structure. In California, according to the Department of Consumer Affairs (DCA), you enter into one of two types of agreements--a periodic rental agreement or a lease.
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- Use the below tools and resources built by NADAguides trusted partners to turbo-charge your car shopping experience. SEARCH NEW AND USED CARS FOR SALE. FREE DEALER PRICE QUOTE. Get the best price and be more prepared with your free, no-obligation new car price quote.
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Can a 17 Year Old Lease an Apartment? Lease Agreements. An apartment lease agreement is a legal contract between a lessee and a lessor that gives the former the right to live at a property owned or managed by the lessor. Lease agreements are binding legal contracts. During the lease term, the tenant is responsible for paying rent and utilities, as well as the property's upkeep.
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Attic Ventilation First, determine how large the vents need to be by calculating the net free ventilating area according to the following equation: Divide the total square feet of the attic footprint by 300 to get the required net free ventilating area in square feet.
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- lease definition A contract that grants possession of property for a specified period of time in return for some kind of compensation. The New Dictionary of Cultural Literacy, Third Edition
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Contents: Lease vs Rent Diffen › Finance › Personal Finance. In real estate, a lease is a contract for a specific period of time — often 6 or 12 months — after which the contract expires, while rent is the payment made under the terms of the lease. Real estate leases are also commonly known as rental agreements..
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- A legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years.Both the lessee and the lessor must uphold the terms of the contract for the lease to remain valid. Next Up. lease is an agreement between two parties where the lessor owns property that it allows the lessee to use pursuant to terms of the agreement.
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- lease. n. 1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. 2. The term or duration of such a contract. tr.v. leased, leas·ing, leas·es. 1. To grant use or occupation of under the terms of a contract. 2. To get or hold by such a contract. a new lease on life. An opportunity to improve one's circumstances or outlook.
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lease lease. n. 1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. 2.
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- A lease will contain a term (a length of time that you agree to rent the property). It is usually a month, six months, or a year. If your lease has no set length of time, the term is automatically a month if the rent is paid on a monthly basis. This means that your agreement runs from month to month.Cite: N.J.S.A. 46:8-10. Just because you have a month-to-month lease does not mean that the landlord can get you out at the end of any month.he lease will state the amount of rent you agree to pay monthly for the house or apartment. This means that if you sign a one-year lease for $500 a month, you are entering into a contract for $500 for 12 months, or $6,000. You should always pay your rent by personal check or money order.
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Lease Agreement In most states, if one tenant violates a provision of the lease, all tenants can have their tenancy terminated if you choose. A leasing agreement needs to clearly state that the rental unit is the residence of only the tenants who have signed the lease and their minor children.