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The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
A lease in which the renter benefits from an increase in value of the asset is known as a finance lease. A leasing agreement which is not a finance lease is known as an operating lease. In housing, when a tenant rents an apartment but only pays for their room and the common space is a lease-by-room arrangement.
A land lease, also known as a ground lease, is an arrangement in which a landowner (the lessor, in legal terminology) rents out the land to a tenant (or the lessee).
Consider the pros of leasing a car. When you lease a car, you sign a contract allowing you to drive it for a period, such as three or four years, after making a down payment, such as 10%.
Then there’s also the option of a lease buyout, which is written into most contracts and permits the lessee to purchase the car outright for a previously agreed-upon sum.