Eviction, actual, refers to the removal of a person from a property, either through force or by legal processes. This action is typically initiated by the property owner or landlord for various reasons, including non-payment of rent or violation of lease terms.
A legal document issued to inform a tenant or landlord of the intention to vacate a rented property. The notice can be initiated by either party, detailing the date by which the property must be vacated.
Surrender is the cancellation of a lease agreement by mutual consent of both the lessor (property owner) and the lessee (tenant), effectively ending their contractual lease obligations.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.