Term
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Definition
| The actions of a landlord that so materially disturb or impair a tenants enjoyment of the leased premises that the tenant is effectively forced to move out and terminate the lease without liability for any further rent. |
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Term
| Estate (tenancy) at Sufferance |
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Definition
| The tenancy of a lessee who lawfully comes into possession of a landlord's real estate but who continues to occupy the premises after the lease has expired against the landlords wishes. |
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Term
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Definition
| An estate that gives the lessee the right to possession until the estate is terminated by either party; the term of this estate is indefinite and no prior notice to terminate is needed. |
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Term
| Estate (tenancy) for Years |
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Definition
| A possessory interest in property for a definite period of time leased for a specified consideration. |
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Term
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Definition
| A commercial lease that contracts for pre-set rental increases over the lease period. |
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Term
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Definition
| A lease of property under which a landlord pays all property charges regularly incurred through ownership, such as repairs, taxes, insurance, and operating expenses. Most residential leases are gross leases; also called flat or fixed rental lease. |
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Term
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Definition
| A lease of land only, on which the tenant usually is required tro build as specified in the lease. such leases are usually long-term net leases. |
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Term
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Definition
| A person who retains possession of leased property after the lease has expired; the landlord may continue to accept rent or make start eviction procedures. |
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Term
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Definition
| A commercial lease that allows the periodic adjustment of rent based on a named index such as Consumer Price Index (CPI). |
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Term
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Definition
| A lease requireing that the tenant pay rent plus some or all of the property charges, such as taxes, insurance, utilities, and repairs. |
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Term
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Definition
| A commercial lease, commonly used for retail tenants; rent is based on the tenant's gross sales at the premises. There is usually a small base monthly rental plus a percentage of any gross slases above a certain amount. |
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Term
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Definition
| A possessory interest in leased property that automatically renews from period to period - week to week, month to month, or year to year; notice is necessary to terminate. Also called Estate (tenancy) from period to period. |
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Term
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Definition
(or sublet)
The leasing of premises by a tenant to a third party for part of the lessee's remaining term.
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