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Flashcards - Leases & Property Management

Flashcards - Leases & Property Management
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leasehold estate
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord
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gross lease
In a gross lease, the tenant pays a flat rental amount, and the landlord pays for all property charges regularly incurred by the ownership
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commercial lease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset
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7 cards in set
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commercial lease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset
gross lease
In a gross lease, the tenant pays a flat rental amount, and the landlord pays for all property charges regularly incurred by the ownership
leasehold estate
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord
property manager
A property manager or estate manager is a person or firm charged with operating a real estate property for a fee, when the owner is unable to personally attend to such details, or is not interested in doing so
sale and leaseback
Leaseback, short for 'sale-and-leaseback,' is a financial transaction, where one sells an asset and leases it back for the long-term; therefore, one continues to be able to use the asset but no longer owns it
security deposit
A security deposit is a sum of money held in trust either as an initial part-payment in a purchasing process - also known as an earnest payment, or else, in the course of a rental agreement to ensure the cost of repair in relation to any damage explicitly specified in the lease and that did in fact occur
statute of frauds
The statute of frauds refers to the requirement that certain kinds of contracts be memorialized in a writing, signed by the party to be charged, with sufficient content to evidence the contract

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