Chattel paper is a legal document that shows both a debt and a security interest in or a lease of specific goods. It is essential in transactions involving personal property.
Learn about head leases, a primary lease from which sub-leases can be generated. Understand its implications, examples, and frequently asked questions.
Ijarah is an Islamic finance term that refers to leasing arrangements like renting or hiring. It is a concept that allows individuals or businesses to use an asset while making periodic payments for its use without transferring ownership.
A lease is a contractual agreement in which a lessor grants the lessee the right to use an asset for a specified period in return for specific rental payments. While the lessor retains ownership rights, the lessee gains usage rights.
The landlord's ownership interest in a property that is under lease. The value of a leased fee interest is based on the anticipated income from rent and the reversionary property value upon lease expiration.
A payment made for the use of land or property, usually, but not necessarily, based on a lease agreement. Rent is typically paid on a periodic basis and provides tenants the right to temporary use and occupancy of certain real property.
A portion of the term of a lease when no rent is required. This is often offered by a landlord as a rental concession to attract tenants.
A sandwich lease is a lease held by a lessee who becomes a lessor by subletting the leased property. Typically, the sandwich leaseholder is neither the owner nor the end-user of the property.
A security deposit is a nontaxable cash payment received by a landlord to be held during the term of a lease to offset damages incurred due to actions of a tenant.
Tenancy refers to the right of possession or occupancy of real property, either through lease or title. It encompasses various forms of holding property, including landlord-tenant relationships and co-ownership arrangements.
Tenancy at sufferance is a type of tenancy that arises when a tenant lawfully takes possession of a property but continues to occupy the premises without the landlord's consent after the lease expires.
A wasting asset is an asset that has a finite life span and steadily declines in value over time, typically due to physical wear and tear or obsolescence.
